Make it Cheaper (MIC), a portfolio company of investment firm ECI, has announced the acquisition of SME lender Think Business Finance.
Headquartered in Chelmsford, Essex, Think Business Finance has a stated intention of helping businesses to borrow money more easily through matching and tendering platforms and expert lending managers. Think Business Finance is involved in sectors including commercial property, asset-based finance, invoice finance, unsecured and short and medium-term funding.
Think Business Finance is MIC’s fourth bolt-on acquisition since ECI invested in the company in 2017. Think Business Finance was founded and is managed by Jamie and Ian Stewart, who will be staying on to run the business.
Paul Galligan, chief executive officer at MIC, said: “At MIC we are building the leading platform for businesses to lower their costs on all their business essentials. Whether it’s energy, broadband or insurance, switching is a proven way of lowering bills. By partnering with Think Business Finance, we can now offer our customers even more ways to save time and money. This is our fourth bolt-on since partnering with ECI and we look forward to expanding our offering as we continue to grow the business.”
Jamie Stewart, chief executive officer at Think Business Finance, added: “We are excited to partner with Make it Cheaper. Joining forces will enhance our product offering, helping our customers save even more, while at the same time Make it Cheaper will be able to provide our customers with more solutions to help them run their businesses more efficiently.”
Established in 1976, ECI typically invests £25m to £100m of equity in deals valued up to £200m.
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Richard Chapman, partner at ECI, said: “MIC is already generating excellent organic growth and today’s platform deal will help the company serve even more SMEs than before. We look forward to supporting MIC as it becomes the UK’s number one switching provider for ambitious, entrepreneurial businesses.”