Livingbridge today announced a significant minority investment in specialist loan distributor, Enterprise Finance (“Enterprise”), in a transaction that values the business at £28m. The investment will be made from Living Bridge V, a £360m fund.
Enterprise is the UK’s largest specialist distributor of secured loans, and also specialises in bridging finance and commercial mortgages. Its market share enables it to offer highly competitive loan solutions to intermediaries and their clients, and a strong flow of business for specialist lenders. Enterprise is based in Borehamwood, Hertfordshire.
Danny Waters, CEO, has over a decade of experience in the specialist loans and mortgages sector and will continue to lead the business along with Sales Director, Harry Landy. David Campbell, who successfully led the buy-out of wealth manager Tilney and its subsequent sale to Deutsche Bank, joined as Executive Chairman and shareholder in June 2013, followed by Emily Gestetner as CFO in January 2014. Under Waters and Landy, Enterprise Finance has grown significantly in recent years, becoming the leading specialist distributor in the UK secured lending market. Since its incorporation, Enterprise has sourced and managed just under £1bn of secured loans, bridging finance and commercial mortgages.
The investment by Livingbridge will support the business as it looks to expand on its product offering and further increase its share in a growing market.
Enterprise was advised by James Lever, Alex John and Bill Troup of Livingstone Partners, who originated the transaction. Shani Zindel and Mark Turner will be joining the Board of Enterprise.
Danny Waters, CEO, Enterprise Finance, comments: “We are currently in a high growth stage and have some major plans for Enterprise in both the short and medium term. The investment by Livingbridge will enable us to invest in the company, realise those plans and build on the success we have achieved to date. This is an exciting time for the sectors we are in, all of which have a huge amount of untapped potential.”
Shani Zindel, Livingbridge, adds: “Livingbridge is backing an outstanding management team in a market-leading business. Danny Waters, Harry Landy and Enterprise are widely recognised as leaders in a growing and exciting market. We believe that the combination of Livingbridge and Enterprise is a compelling proposition, positioning us for continued success.”