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Travers Smith advises Livingbridge and management on the acquisition by Exponent Private Equity of a majority stake in Enra

Overview

Travers Smith LLP has advised Livingbridge and management on the acquisition by Exponent Private Equity of a majority stake in ENRA Group.

ENRA lends and brokes short term bridge mortgages as well as distributing specialist second charge and buy-to-let products.   ENRA is unique in both lending from its own balance sheet and placing loans with external investors via its West One platform, in addition to operating a leading master broker under the Enterprise brand.

The Travers Smith team was led by head of private equity Paul Dolman and partner Will Yates and also included private equity associates Victoria Bramall, Ian Keefe, James Ravden and Tom Lloyd. Tax advice was provided by tax partners Simon Skinner and Russell Warren and tax associate Amie McFadzean. Finance senior counsel Matthew Smith advised Enra Group on its banking arrangements. 

Shani Zindel of Livingbridge said: "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."

Danny Waters, CEO of ENRA, said; "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."

The transaction is subject to FCA approval.