Alternative lender ThinCats will lend more than £300 million to growing British companies through a new fund.
The new fund, aimed at 'high-growth and owner-managed' businesses, will help companies based in London, the South East, the North West and the Midlands with an EBITDA (earnings before interest, tax, depreciation and amortisation) of over €1 million per year.
The finance provider provided a record £395m to businesses in 2023 and has lent around £1.7bn in total. While it is sector agnostic in its investments, it skews towards companies in the leisure, technology and healthcare sectors.
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ThinCats chief commercial officer Mike Hackett was quoted by Yahoo Finance as saying: “The good news is that with inflation continuing to fall and the Bank of England indicating that interest rates could fall later this year, there is much more stability in the economy. ” the market.
“Business owners are now starting to make decisions again about acquisitions, management buyouts, EOTs or capital restructurings.
“Alternative lenders like us, alongside challenger banks and private debt funds, are increasingly providing the necessary financing for ambitious, high-growth companies, especially in the regions.
“By working closely with regional corporate finance communities, we aim to support many more companies looking to access flexible debt capital to support their growth objectives.”
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