Ashcombe advises Allica Bank on its acquisition of Tuscan Capital
Ashcombe is pleased to announce that is has acted as exclusive financial advisor to Allica Bank, a leading fintech SME bank, in connection with its acquisition of Tuscan Capital from funds advised by Quilam Capital Limited.
Tuscan Capital was launched as a UK short-term property lender in 2018 by Colin Sanders and Ed Parsons, two highly experienced real estate credit professionals. Since then, it has developed a strong brand as a highly efficient, flexible bridging lender for residential and commercial properties across the UK, operating from three regional offices.
Richard Davies, Allica’s CEO said:
“We are thrilled to welcome Tuscan into the Allica family. Tuscan’s commitment to service, and in particular their focus on speed and transparency for their broker partners and customers, meant the synergies with Allica’s values were clear. Commercial bridging is an important but underserved part of the lending market, and we believe bringing together Tuscan’s expertise and existing relationships with Allica’s resources and network is a winning combination for the market. We are pleased to continue our relationship with Ashcombe whose expertise in the banking and credit markets in the UK has served us extremely well in the past and on this transaction.”
Andreas Wesemann, Partner at Ashcombe, commented:
“Allica Bank is an important client of our firm, and we are pleased to have been able to support its hugely impressive growth with this transaction.”