National mortgage broking organisation, Money Quest Group (MQG), has purchased Keylend, a mortgage broking business, to bolster its position in the broking sector and support Keylend brokers in building stronger businesses.
The transaction was finalised on July 18, marking MQG’s sixth acquisition to date.
Established in November 1998, Keylend is home to over 100 finance brokers, making it the largest mortgage broking group based in South Australia.
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MQG managing director Michael Russell (pictured above), expressed his enthusiasm about the acquisition.
“We are delighted to be welcoming a new cohort of high-calibre brokers to MQG and can’t wait to add another layer of value to their businesses,” Russell said.
Russell said that the acquisition was logical due to the strong cultural alignment between the two businesses.
“Having known Chris Burns for 20 years I hold him in extremely high regard and am thrilled that he will be continuing as Keylend’s CEO,” Russell said. “Chris has always treated his brokers like extended family, and we take a very similar approach at MQG.”
“Given we also use the same MyCRM technology, the acquisition will be seamless and will not disrupt the operational rhythm for Keylend brokers,” Russell said.
He also reinforced MQG’s desire for further growth through acquisitions.
“We continue to have an appetite to grow organically and acquisitively,” Russell said. “The addition of Keylend will take us to over 600 brokers nationally and see us continuing to search for quality brokers to recruit, as well as strong state-based and national broker groups to acquire.
“With growth comes scale and with scale comes improved operational efficiencies and resource allocation, which will further fuel the support we offer to our brokers.”
Keylend Founder and CEO Chris Burns is looking forward to joining forces with MQG.
“I have had the pleasure of knowing and working with Michael Russell for nearly 20 years and am confident that our brokers and their clients will be well served under his leadership,” Burns said.
“MQG’s broker support services are exceptional and the executive team’s industry experience and passion is second to none. This is a wonderful opportunity for our brokers to leverage new resources, training programs and technology, to better their businesses.”
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