Five Arrows Commercial Finance Ltd, the asset based lending arm
of the bank NM Rothschild & Sons Ltd, has been sold to GE
Commercial Finance.
Rothschild is understood to have pushed through the sale of the
company, which specialises in asset-based lending solutions to UK
small and mid-market businesses, in order to raise cash amidst the
current credit crunch.
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Sources also said that the company, which has assets under
management totalling £175m, needing scaling-up, but that Rothschild
was not willing to commit an additional £200m needed to do so. “To
get really profitable it needed to increase its assets under
management to £400m,” an insider said.
John Jenkins, CEO of GE Commercial Finance Business Finance,
said: “Five Arrows Commercial Finance Ltd not only brings a strong
customer portfolio, very much aligned to our own strike zone and
good people, but also new product and distribution capabilities
that will enhance our ability to better service customers and
compete in the market.”
Manchester-based Five Arrows Commercial Finance employs 78 staff
and has some 400 clients.
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