Ruffler Bank, recently acquired by private equity firm AnaCap,
has merged with Base Commercial Mortgages and relaunched as
Aldermore – a new commercial lender with immediate growth
plans.
The new company will be the first British bank wholly owned by a
private equity house, and will start trading with a book of about
£70 million. Roughly half of this is in commercial mortgages at
present, with the other half comprising Ruffler’s former asset and
property finance books.
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According to deputy CEO Mark Stephens – who founded Base in 2007
– Aldermore plans to grow this book to £100 million by year end,
with most of this growth to be driven by asset finance and leasing
sales. Similar rates of growth are then planned for years 2 and 3
of the business.
For the full picture of this new market player, see next
month’s Leasing Life (August issue).
Fred Crawley
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