Alternative finance provider LDF Group will today announce the rebranding of its platform to White Oak UK, after it was bought by US business funding giant White Oak Global Advisors at the end of June.
The lender was acquired by the US firm as the “first step” of its UK expansion, after its chief executive Andre Hakkak said Europe represents “a large opportunity” for White Oak Global Advisors.
*Read more*: LDF snapped up by US giant in "first step" of UK expansion
One of Britain’s biggest independent small business funders, the newly-named White Oak UK has provided over £1bn in funding in the last four years and financed £511m in loans in 2017.
UK private equity firm Cabot Square sold its stake in LDF to White Oak Global Advisors for £150m earlier this month as part of the transaction, understood to be a 2.8 multiple of its initial investment.*Read more*: Private equity firm Cabot Square completes sale of lender LDF in £150m deal
The company hopes to expand its operations to fund larger, middle-market companies as a result of the deal, drawing on its parent firm’s experience in the area.
White Oak UK said the rebrand has no impact on any of its existing agreements, and will continue operating as usual. Reported by City A.M. 4 hours ago.
The lender was acquired by the US firm as the “first step” of its UK expansion, after its chief executive Andre Hakkak said Europe represents “a large opportunity” for White Oak Global Advisors.
*Read more*: LDF snapped up by US giant in "first step" of UK expansion
One of Britain’s biggest independent small business funders, the newly-named White Oak UK has provided over £1bn in funding in the last four years and financed £511m in loans in 2017.
UK private equity firm Cabot Square sold its stake in LDF to White Oak Global Advisors for £150m earlier this month as part of the transaction, understood to be a 2.8 multiple of its initial investment.*Read more*: Private equity firm Cabot Square completes sale of lender LDF in £150m deal
The company hopes to expand its operations to fund larger, middle-market companies as a result of the deal, drawing on its parent firm’s experience in the area.
White Oak UK said the rebrand has no impact on any of its existing agreements, and will continue operating as usual. Reported by City A.M. 4 hours ago.