Moser family anticipated to become sole shareholder of Together

Moser family anticipated to become sole shareholder of Together




Together has identified the Moser family as a preferred option to become sole shareholder after it confirmed that minority shareholder Equistone intends to exit the business.

The specialist lender anticipates that the Moser family would increase their current majority interest to become the sole shareholder, alongside a small, non-voting shareholding interest held by other members of the senior management team. 

Independent investment firm Equistone holds a 30% stake in the company, however this matured in late September last year.

The announcement comes as Together celebrates a year of record growth, with annual lending rising 39.5% to reach £1bn for the year ending 30th June 2016. 

Mike McTighe, group chairman at Together, said: “These record results affirm the positive position the business is in.



Mike McTighe, group chairman at Together

“We believe we have a strong competitive advantage and are excited about the future.

“We are confident about the opportunities in the specialist finance sector and we have the financial capability to support our ambitious growth plans.”

The company’s profit before tax also rose 20.8% to reach a record £90.3m, while the loan book grew by £377.2m to reach £1.8bn. 

Together revealed that its weighted average loan-to-value now stands at 52.6%, highlighting a prudent approach to lending. 

Meanwhile, Mike explained that the growth was a result of strong new origination levels and robust credit quality.

The company has also made good progress in governance, senior management appointments, IT and reporting. 

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