We are delighted to announce that we have completed the acquisition of Oaklands Secure Lending, a Jersey based short term lender led by a team of respected lending heavyweights.
Oaklands is a great company, founded by John Davey, Steve O’Brien, Emilie Golding and Andrew Whelan in 2022. The team are fantastic originators, understand lending as well as anyone else and have a wide network of clients, co-founders and professional introducers.
The acquisition gives Tenn a number of significant benefits.
Firstly it gives us a physical presence in Jersey, a key territory for us for 2 reasons:
1) We have significant capital to deploy into the Jersey real estate market and;
2) Our international lending capabilities are hugely relevant for the local private client adviser marketing.
Secondly, the team bring with them an enviable network of co-funders, individuals who are happy to contribute capital to loans to receive interest and income, which allows us to increase our lending capability in a number of creative ways. We will talk about that more over the next few weeks.
Thirdly, a deep experience which adds to Tenn’s intellectual capital – this will help us shape our lending decisions, solve problems and build new ways of lending.
And finally, a huge capacity increase allowing us to originate and execute more transactions – we are very busy at the moment and a few more hands on deck are more than valuable.
The acquisition was completed on 27th February after a few weeks of negotiation and documentation – the pace at which we completed clearly shows the shared vision and culture and demonstrates how closely the two businesses are aligned. Oaklands will immediately rebrand as “Tenn Capital”.
We have more announcements over the next few weeks and once they are in place we will then turn our attention to some more strategic acquisitions in the lending space, both in the UK and overseas. We think that there is a clear argument for consolidation under present conditions. There are a huge number of great originators and operators existing in the short term lending space but they are limited by a lack of secure funding and efficient execution – both of which we have in droves. There are significant advantages available by joining the two together.
Until then – we have a few weeks work in welcoming and integrating with our new colleagues.