Quilam acquires home improvement loan provider Propensio

Financial details of the transaction remain undisclosed, though a spokesperson for Quilam told Unquote that the firm, which writes tickets of up to £25m, has acquired a majority stake via the transaction.

The spokesperson said the deal sees the firm acquiring the business via a shareholder loan, consisting of both asset-backed debt and working capital.

Under its new owners, Propensio will expand its range of services, as well as investing in recruitment and its infrastructure.

The transaction is the seventh investment made by Quilam since it launched in 2017.

Company
Founded in 2017 and headquartered in Rotherham, South Yorkshire, Propensio provides financing for home improvements via suppliers of building fixtures, such as windows, fitted kitchens and boilers.

People
Quilam Capital – Kieran McSweeney (co-founder, partner).
Propensio Finance – Dave Hindle (founder, managing director).

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