OneDome Acquires Coreco Group for Strategic Expansion in Mortgage Services
Deal News | Dec 05, 2024 | Aim Group
OneDome, a U.K.-based real estate portal, announced its acquisition of Coreco Group, a prominent mortgage broker service. The purchase is part of OneDome’s strategic effort to expand its service offerings within the real estate sector by integrating brokerage services. The deal awaits approval from the U.K.'s Financial Conduct Authority (FCA). Coreco Group's current leadership, Julian Ingall and Andrew Montlake, will continue to be involved, suggesting a seamless transition under the new ownership. This acquisition aims to bolster OneDome's market position and service capabilities in the financial sector related to real estate.
Sectors
- Real Estate
- Financial Services
Geography
- United Kingdom – The geographic focus of this transaction as both OneDome and Coreco Group are based there and the deal requires approval from the UK's financial regulator.
Industry
- Real Estate – Relevant as OneDome is a real estate portal engaging in this acquisition to expand its offerings.
- Financial Services – Relevant due to Coreco Group's role as a mortgage broker and the regulatory approval needed from FCA.
Financials
- Undisclosed – The financial terms of the acquisition are not public.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| OneDome | Buyer | Company | A U.K.-based real estate portal acquiring Coreco Group to expand its service offerings. |
| Coreco Group | Target company | Company | A mortgage broker service in the UK, being acquired by OneDome. |
| Julian Ingall | Director | Person | An existing director at Coreco Group who will maintain a leadership role post-acquisition. |
| Andrew Montlake | Director | Person | An existing director at Coreco Group who will continue his role following the acquisition. |
| Financial Conduct Authority (FCA) | Regulator | Government | The U.K. financial regulator whose approval is required for the acquisition to proceed. |