LSL completes on acquisition of mortgage industry supplier

It’s taken six months but LSL Property Services has announced that its acquisition of TenetLime is now complete.

At the end of lats summer LSL announced it wanted to acquire the entire issued share capital of TenetLime Limited; that would mean acquiring TenetLime’s  network providing services to 231 mortgage and protection advisers, operating within 133 appointed representative firms. 

The transaction also included consideration for the recruitment by TenetLime of 47 mortgage and protection advisers operating within 24 appointed representative firms, that were at that time members of TenetConnect Ltd and TenetConnect Services Ltd.

Six months ago LSL said that after a short period of transition, TenetLime members would be integrated fully in the operations of LSL’s PRIMIS Network. 

David Stewart, LSL group chief executive officer, commented at the time: “I’m delighted we have been able to complete this transaction and I look forward to welcoming TenetLime’s advisers to our PRIMIS Network. The increase in membership will help us to further invest in our service offering to member firms as well as delivering scale economics to support further growth.

“The acquisition also underpins our leading position in the mortgage and protection network market and is fully aligned with our Group strategy to develop our Financial Services Network business.”