White Oak agrees to acquire LDF05/04/2018
White Oak Global Advisors LLC (collectively “White Oak”) has agreed to expand its asset-based lending platform through the acquisition of LDF Group (“LDF”), a UK-based finance company providing asset finance, business loans, commercial mortgages and education leases to small and middle-market companies.
“Europe represents a large opportunity for White Oak, and we are excited to grow our presence and activity in the region by welcoming LDF into the White Oak family,” said White Oak CEO, Andre Hakkak. “LDF has been on an incredible growth trajectory, completing over £500 million of financing to small businesses across the UK in 2017 alone, and we are confident that the business will continue to grow with the backing of White Oak.”
In acquiring LDF, White Oak will have over 22,000 active loans across more than 10,000 direct clients in the UK SME market, a national sales force in excess of 100 personnel across a variety of channels, a position in the market where it is recognised as one of the major non-bank providers of SME capital and a fully functional platform in the SME lending space incorporating headquarters in Ewloe, Wales and four additional offices across England and Scotland.
White Oak is pleased to welcome the senior leadership of LDF led by Managing Director, Peter Alderson, and all 220 members of the LDF team. Alderson said, "LDF will continue to provide the same level of support and service to its clients under the same model, now backed by more resources to deliver more financing, products and opportunities to entrepreneurs and small businesses throughout the UK. It also gives us the opportunity to look to the wider European market to develop our reach and presence. We are delighted to have found in White Oak a partner that shares our values and our keen focus on client success.”
“This is the first step to expand the White Oak platform in the UK. I am excited to welcome such accomplished professionals in LDF to White Oak and expand our business across Europe,” added White Oak Head of Europe, Tom Otte.
LDF was established in 1986 and remains one of the largest independent finance providers for small businesses in the UK.