Investment management firm Brooks McDonald has acquired advice business LIFT-Financial, which includes the brand names LIFT-Mortgages and LIFT-Invest.
An initial consideration of £30m will be paid in cash upon completion, with a total payment of £45m subject to financial targets, Brooks McDonald said in a statement. 
LIFT-Mortgages founder and managing director David Baker said in a LinkedIn post today that the business has been “pushing above our weight for almost a decade.”
“It has been the most amazing journey ever. Going from £0 to £591m in annual financing was not an easy task, but it is something we are all very proud of achieving. Masu.”
Mr. Baker founded LIFT's mortgage division four years after the entire business began and led the division for 13 years.
He said this will continue as he continues to manage the mortgage business following the acquisition.
“I am speechless that a FTSE-listed company of Brooks’ stature would want to buy what I started.
“LIFT was the best experience for me. I learned a million things that I use every day in my business life and loved almost every moment of it. I am so lucky to have the best team around me. I feel that it is.
“But this doesn't change anything. I'm still here for our customers as always, and we continue to strive to be the best mortgage brokerage we can be.”
Andrea Montague, Brooks McDonald's Chief Executive Officer and Chief Financial Officer, said of the acquisition: Today, we are pleased to announce the acquisition of LIFT, a high-quality, well-established financial services business with a track record of profitable growth.
“This is an exciting step in the execution of our strategy and reinforces our commitment to providing trusted financial planning services backed by best-in-class multi-asset investment solutions. We look forward to welcoming the LIFT team to Brooks McDonald.”
The acquisition is subject to regulatory approval and is expected to close by the end of March 2025.
