Yellow Brick Road has made an offer to acquire the mortgage aggregator Vow Financial Holdings. YBR announced yesterday that it had entered into an implementation deed with Vow and made offers to each of its 24 shareholders - one of which is Macquarie Group.Vow provides services to more than 700 mortgage brokers and administers a portfolio worth about A$18 billion.YBR executive chairman Mark Bouris said in a statement that Vow would provide YBR with a new national distribution channel. He said Vow was a profitable business.Completion of the deal will be subject to YBR shareholder approval. The company will hold a general meeting in July.YBR said the Vow board had resolved unanimously to recommend acceptance of the offer. The terms of the transactions were not disclosed.If the Vow acquisition goes ahead it will form one part of an ambitious expansion strategy YBR outlined at an investor briefing in March. It said it was involved in discussions with three acquisition targets - a consumer product rating and lead generation group (a comparison site), a mortgage aggregator and a mortgage manager.The company also outlined a corporate restructure. It plans to form a holding company, under which it would operate six businesses: diversified wealth management, funds management, consumer leads generation (comparison site), mortgages, financial planning and accounting.YBR lost $3.5 million in the six months to December and its accumulated losses amount to $22.5 million. However, revenue has been growing strongly and the company has forecast that it will deliver a first year of profit in 2014/15.The company said it wanted to capitalise on the recent recovery in the property market, the recovery in demand for credit and lower costs in the funding markets.It also believes that the Financial System Inquiry offers "once in a generation potential for change, which creates opportunity."