Livingstone’s Business Services sector team is pleased to announce the acquisition of West One Loans by Enterprise Finance. Livingstone advised long-standing client Enterprise on the transaction.
Enterprise Finance is a distributor of secured loans and specialises in bridging finance and commercial mortgages and is backed by private equity investor Livingbridge. In April, Enterprise was named the 15th fastest growing company in the UK according to the Sunday Times’ Profit Track 100 league.
West One Loans is one of the leading independent lenders in the UK bridging sector with a fast growing and strongly performing loan book with over £100m of loans currently under management. The two businesses, which are both based in Borehamwood, Hertfordshire, are to be integrated in the near future with both companies moving to a new larger headquarters.
Danny Waters, CEO of Enterprise Finance, said: “We have known the West One Loans team for a long time. Over the last six years we have watched the business grow from a concept to what it is today – a major player in the bridging market with over £100m of loans under management. We feel we can help grow the business even further in a short period of time and help take West One to the next level.
“Livingstone has one again provided us with invaluable advice and assistance in securing, structuring and executing an important deal in the development of the Enterprise business.”
James Lever, Partner at Livingstone added: “We are delighted to have helped Enterprise with their third transaction in the last year. The combination of Enterprise with West One will create a powerful force in the UK secured lending market.”
Alex John, Director at Livingstone said: “Enterprise continues to go from strength to strength and this deal gives them a further platform for growth as well as adding management strength. We look forward to continuing to work with Danny, David and Livingbridge to help them execute their strategic goals.”
Livingstone previously advised Enterprise on its 2013 equity investment from current Chairman David Campbell as well as its February 2014 equity investment from Livingbridge.
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- “Livingstone has once again provided us with invaluable advice and assistance in securing, structuring and executing an important deal in the development of the Enterprise business.”Danny Waters, CEO, Enterprise Finance