Dragonfly announces acquisition of Maslow Capital
Dragonfly Property Finance has acquired mezzanine lender Maslow Capital in a deal which includes the brand and its multi-million pound loan book.
Specialist mezzanine and development loans will continue to be offered through the Maslow Capital brands however says Dragonfly.
The acquisition of Maslow adds seven more staff to Dragonfly, nearly doubling the previous eight who worked at the lender.
Jonathan Samuels, chief executive officer at Dragonfly, said:
“Maslow Capital are heavyweight players in the mezzanine loan sector. Their expertise and reputation will help us build on our existing strengths and accelerate our expansion into the mezzanine market.
“With our development and mezzanine operation now in safe hands, the Dragonfly team can continue to focus their energy on consolidating our position as the market’s leading provider of bridging, Buy-to-let, second charge and house in multiple occupation loans.”
Ellis Sher, director of Maslow Capital, added:
“In just two years, Dragonfly has established a dominant position in the property finance sector and in a market that has seen most balance sheets diminish.
“Their mix of skills, origination capability and formidable funding is a true differentiator.
“We are very excited about combining our strengths and expanding the solutions we offer to professional property developers.”
Daniel Churchill, director of commercial 1, said:
“Having worked closely with Dragonfly since its inception, the innovation shown from this company is second to none.
“When it ventured into the development sector earlier this year, it was merely a natural progression.
“Maslow and Dragonfly are a perfect fit and their combined knowledge and skill-set in the development and mezzanine finance arena will add great value to this growing and increasingly important sector.”