Ashcombe advises Lending Works on its sale to Intriva Capital
Ashcombe is pleased to announce that it has advised Lending Works on its sale to Intriva Capital, a leading alternative investment manager focused on special situation strategies across private markets in Western Europe.
Founded in 2014 by Nick Harding and Matt Powell, Lending Works has grown to become one of the leading consumer finance lenders in the UK, using the latest technology to develop its closely-integrated B2B2C business model and create a market-leading experience for customers and partners. Nick and Matt will continue to lead the business into its next phase of growth.
Nick Harding, CEO of Lending Works, said:
“Intriva’s investment will ultimately help us realise our ambition of becoming a market leader in consumer credit in the UK. We worked with Ashcombe for over a year to prepare and execute this transaction in a very challenging market environment, and throughout have benefited greatly from their judgement, expertise and relationships.”
Adrian Hobcroft, Partner at Ashcombe added:
“We have a long track record of completing complex transactions in the consumer finance sector in the UK and Europe. We believe Lending Works, supported by its new shareholder, can become a leader in digital consumer lending in the UK.”
This transaction adds to Ashcombe’s financial services track record this year, including the $30m funding round for Marshmallow Insurance, the sale of Cavendish Asset Management, a structured financing for Bluestone Consolidated Holdings, and Newable’s acquisition of Synergy Leasing.