Chiltern divests Vantage to Exponent-backed Enra

Following completion of the deal, Vantage will sit alongside Enterprise Financial in Enra's specialist mortgage broking division.

Under the vendor's 20-month tenure, Vantage expanded its management team and invested in sales and marketing activity.

The transaction comes 14 months after Exponent acquired Enra from Livingbridge with capital drawn from its £1bn third fund. During Livingbridge's holding period, the company bolted on bridging lender West One Loans in September 2014 and invested in its IT infrastructure, marketing and sales activity.

Previous funding
Chiltern acquired a significant minority stake in Vantage in May 2016, with the firm's partners Alex Sheffield and Tom Phipps taking a seat on the company's board. The GP typically makes investments of £1-10m in UK-headquartered businesses.

Company
Founded in 2004 and headquartered in Gerrards Cross, Buckinghamshire, Vantage is a master broker. It offers brokering services for residential, commercial and buy-to-let mortgages, short-term finance and development finance.

People
Enra Group – Emily Gestetner (chief financial officer).
Vantage Finance – Lucy Hodge (founder, managing director).

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• Topics
• Exits
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• UK / Ireland
• Financials
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• Exponent Private Equity
• Trade sale