s. As part of the Praetura Asset Finance group, Kingsway will be able to access a wider, more secure funding platform, enabling faster growth. Adrian Anthon, the Managing Director of Kingsway, joins the board of Praetura Asset Finance, as well as taking equity in the combined group.
Mike Hartley, Managing Director of Praetura Asset Finance, said “After achieving our five-year plan of building a loan book in excess of £60m, we wanted to take the business to the next level. Our new ‘buy and build’ model will be a key part of our growth strategy moving forward, and Kingsway Asset Finance was the perfect company to join us on this journey. The company complements what Praetura already does, allowing us to widen the group’s product range and help us get to where we want to be as a business.”
Peadar O’Reilly, Founding Director of Praetura Asset Finance, sai: “The fact that Kingsway is a well-known business established on the same foundations as us was really important. They’ve got a talented team with strong management and an exceptional commitment to customer service, helping this country’s small and medium-sized businesses to fulfil their potential”.
Adrian Anthon, Managing Director of Kingsway Finance, said “After 21 years as an independent company, I am delighted that Kingsway has joined the Praetura Asset Finance Group. From my first contact with Praetura, I was enthused by our common vision for the future of the enlarged entity and what we can achieve together. The fact that both companies have their own specific strengths and very little overlap was an important factor in my decision to sell Kingsway to Praetura Asset Finance.”
