Endless moves into asset-based lending

Greg Gille
@unquotenews
13 March 2012

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UK-based turnaround specialist Endless has launched Encina, a new business providing both asset-based lending (ABL) and equity investments.

Encina will target companies with debt requirements of £2m and above, across all sectors and in a variety of situations (including turnaround and refinancing). It will also look to take equity positions in its clients when possible.

The new venture - a separate legal entity - will be funded by Endless to start with, but the firm stated it expects Encina to have its own independent funding in due course. Encina will be based in Leeds, and headed by newly appointed director Andrew Ward.

"The UK has experienced a significant reduction in liquidity in the banking markets in the past four years and there are no signs of this improving," says Endless managing partner Garry Wilson. "I have seen many good opportunities for a debt provider over this time, which were not suitable unfortunately for an equity investor such as Endless, and it is frustrating to know these businesses weren't being supported."