White Oak Global Advisors will expand its asset-based lending platform to serve clients in the UK and other parts of Europe through the acquisition of LDF Group, 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.
In acquiring LDF, White Oak will have more than 22,000 active loans across 10,000+ direct clients in the UK SME market, a national sales force of over 100 personnel across a variety of channels and a fully functional platform in the SME lending space incorporating headquarters in Ewloe, Wales, along with four additional offices across England and Scotland.
“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,” said White Oak Head of Europe, Tom Otte. “As economies continue to grow, there is an increasing need for the types of financing we provide to help smaller companies achieve their next evolution of growth.”
The transaction is subject to regulatory approval from the UK’s Financial Conduct Authority and is expected to close within the next few months.
