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Follow-on investment in Enterprise Finance

Livingbridge is pleased to announce the completion of a follow-on investment into Enterprise Finance (“Enterprise”), to part fund the acquisition of West One Loan Limited (“West One”).

Enterprise is the UK’s largest specialist distributor of secured loans, and also specialises in bridging finance and commercial mortgages. In April, Enterprise was named the 15th fastest growing company in the UK according to The Sunday Times’ Profit Track 100 league.

West One is a facilitator of bridging loans funded by high net worth investors. The business has grown significantly since its incorporation in 2008, becoming one of the largest privately funded short-term lenders in the UK secured lending market, with over £100m of loans currently under management. The acquisition of West One will significantly increase the value of loan assets under the group’s control, diversify its funding sources and add to its lead generation capability.

The two businesses, which are based in Borehamwood, Hertfordshire, will be integrated in the near future with the combined entities moving to a new, larger headquarters in the local area.

The existing Enterprise Finance board, chaired by former wealth manager David Campbell and led by CEO Danny Waters, will welcome West One Loans directors Duncan Kreeger and Stephen Wasserman.

Danny Waters, CEO of Enterprise comments: “We have known the West One Loans team for a long time. Over the past six years, we have watched the business grow from a concept to what it is today – an established, financially robust and proven bridging lender with over £100m of loans under management. With Stephen and Duncan joining the board, we will be adding strength and depth to our own senior management team and I look forward to working with them to take the business forward. From now on, our strategy as a group will be focused on both organic and buy-to-build growth, with this the first of a number of planned acquisitions.”

Xavier Woodward, Investment Director, Livingbridge comments: “We are very pleased with the progress of Enterprise since our initial investment in February this year. The addition of West One brings scale and lending experience to the group. This further enhances Enterprise’s ability to deliver appropriate bridging solutions quickly to its introducing brokers and ultimate borrowers.”