Exponent sells Enra to Elliot Advisors

According to a report by Sky News earlier this month, the deal valued the asset at more than GBP 350m.

Exponent acquired a majority stake in Enra in 2017 from management and Livingbridge. Under Exponent's ownership, Enra has invested in systems and widened its product range by expanding into new areas of lending including development finance, buy-to-let and second charge mortgages while also strengthening its management team. Elliot Advisors was founded in 1977 and it manages around USD 51.5bn in assets, according to its website. The investor acquired bookstore Waterstones in 2018 from Lynwood.

Exponent and Elliot declined to comment.

Company
Borehamwood, Hertfordshire-based Enra Group entered the specialist loans market in 2002, according to its website. The company operates three brokering and lending brands including West One, a specialist lender acquired in 2014; Enterprise Finance, a finance distributor; and Vantage Finance, a master broker acquired in 2018. Through these brands, Enra provides its services to brokers and businesses.

People
Enra Group – Danny Walters (founder, CEO).
Exponent – Mark Taylor (partner).

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