MT Finance completes MBO with funding from Triple Point Investment Management

By Bridging Loan Directory 8th March 2021

MT Finance Limited Group, an award-winning specialist property lender, today announces the completion of a management buy-out (MBO) which consolidates 100% of the ownership of the company back into the hands of the joint founders, Joshua Elash and Tomer Aboody.

The MT Finance Group raised £8m of funding from Triple Point Investment Management to complete the purchase.

Pursuant to the terms of an option contract signed in November, the transaction had to be completed before the Chancellor’s budget on 03 March 2021.

Advised by Nick Parkhouse’s team at EY and represented by the team at Ashurst, the complex MBO was structured and completed within 8 weeks.

Established in 2008 by co-founders Joshua Elash and Tomer Aboody, MT Finance has quickly established its reputation for providing outstanding customer service and the ability to complete loans quickly. MT Finance has successfully completed in excess of £1 billion of lending.

Joshua Elash, co-founder, said:

“This buyout is the start of a new and exciting chapter in the story of our company and will allow the management team to now push forward with our goal and vision of making the MT Finance Group the leading property finance provider in the U.K.

We wish to express our gratitude to the teams at Triple Point, EY and Ashurst for their tireless assistance, day and night, in getting this done under the tightest of time constraints.”

Commenting on the transaction, Reece Digance, Triple Point Investment added:

“We are excited to partner with MT Finance to support the buy-out. It was clear to us from the outset that MT Finance’s customer proposition is first class, supported by technology, customer service, and speed of execution. We look forward to supporting the business’ ambitions in the near future.”

MT Finance was advised by the Financial Services Corporate Finance team at EY.

Nick Parkhouse of EY, said:

“We have worked closely with Joshua and Tomer for a number of years and we are delighted to have advised MT Finance on the buy-out.

This transaction was completed entirely remotely and demonstrates the continued strength and attractiveness of the underlying MT Finance platform.

We share the company’s excitement about the future and this transaction will enable the team to act on the sizeable opportunities that are available to them.”

Lee Doyle, Matthew Pentecost and Elizabeth Street-Thompson from the banking team at Ashurst LLP provided legal advice to MT Finance. Harry Bengough and Tim Walker from the banking team at Harrison Clark Rickerbys Ltd provided legal advice to Triple Point.