Victory Park Capital takes majority stake in Borro
By Tom BelgerVictory Park Capital (VPC) has taken a majority stake in specialist finance lender Borro
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The investment firm originally provided Borro with a credit facility in February 2014 to support the latter’s growing loan portfolio.
VPC will now expand its involvement with the lender to also include working capital financing along with strategic and operational support.
As part of the transaction, Tom Welch and Gordon Watson – both partners at VPC–– have joined Borro’s board of directors.
“We’re very excited to expand our relationship with Borro by partnering with its new management team to help the company refocus on its core business, where we see a lot of opportunity," said Tom.
"Having been involved with the business since early 2014, we are uniquely positioned to capitalise on this opportunistic investment."
John Allbrook, CEO of Borro, said VPC was the ideal partner for the next phase of Borro’s development.
"Despite several business and leadership shifts over the past two years, we feel confident that with VPC’s partnership, we can capitalise on what remains a fragmented and niche market that continues to be underserved."
The transaction closed on November 15th following approval from the FCA.
Earlier this year, Borro announced the departure of its CEO Paul Aitken and pulled out of the property bridging market.
Keywords: Borro, John Allbrook, Tom Welch, Gordon Watson, Borro loans, Borro products, Borro shareholder, Victory Park Capital, VPC investments, bridging finance, specialist finance, commercial finance