ENRA Group to expand second charge and BTL offering

ENRA Group, the parent company of Enterprise Finance and West One Loans, has announced plans to expand into the specialist buy-to-let and second charge mortgage marke following its acquisition.

Related topics:  Mortgages
Rozi Jones
17th November 2016
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"We are thrilled to be partnering with Exponent and look forward to working together to take the business to the next level of growth."

Exponent Private Equity announced yesterday that it has reached an agreement to acquire a majority stake in ENRA from management and Livingbridge.

Exponent intends to fund ENRA’s expansion into the specialist buy-to-let and second charge markets.

David Stewart, former CEO of Coventry Building Society, will join the board as Chairman.

ENRA currently lends and brokers short term bridge mortgages as well as distributing specialist second charge and buy-to-let products.

Mark Taylor, Partner at Exponent, said: “We believe ENRA is uniquely positioned in the specialty finance market, offering its customers both speed and certainty across a range of bespoke residential and commercial mortgage products. We are excited to back Danny Waters and his team to continue the impressive growth the business has experienced to date, as well as supporting ENRA to develop new product lines.”
 
Danny Waters, CEO of ENRA, commented: “ENRA is at a key stage in its development and is well positioned to offer innovative solutions to customers in a market that is evolving at a rapid pace. We are thrilled to be partnering with Exponent and look forward to working together to take the business to the next level of growth. I would also like to thank David Campbell and the team at Livingbridge, whose fantastic support has allowed the business to grow five-fold in just 3 years.”
 
Livingbridge's Shani Zindel added: “We are very proud of our investment in ENRA. Danny and the team have done a fantastic job. The business has grown from a niche broker of loans to a leading provider of lending solutions – organically and through the acquisition of West One Loans. The investments made in people, IT, sales and marketing have yielded extremely impressive results – ENRA has grown successfully on every level. We are pleased to be able to continue as shareholders and look forward to the next stage of growth.”

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