Holding company Non-Standard Finance intends to raise around 100 million GBP on the London stock market in order to acquire and operate alternative financial services companies focused on the UK’s non-standard customers.
The group, founded by former Provident Financial chairman John van Kuffeler, has already received a cornerstone investment of 48 million GBP from investors including Woodford Investment Management LLP,
Invesco Asset Management Limited and Marathon Asset Management.
NSF intends to enable its acquired companies or businesses to realise their growth potential through scaling of IT, capital, compliance and finance platforms. The Company has been set up as a vehicle to acquire at least one (and preferably two or three) target companies or businesses in the UK non-standard consumer finance sector. Once the Company has made and combined these acquisitions so that it is a substantial operating entity, its intention is to expand through further acquisitions in the sector in the UK and possibly elsewhere.
Out of over 100 non-standard lending businesses in the UK, the Directors have identified around 20 companies that could be of interest to the Company. The Directors are currently interested in pursuing acquisitions in the following sub-sectors: guaranteed loans, consumer loans, rent to own and home collected credit, all of which are in non-standard unsecured consumer finance.
The Directors intend to make the first acquisition within six months. The Company may make acquisitions of companies or businesses for either cash consideration or a mixture of cash consideration and an issue of shares in the Company. For more details see ‘Intention to Float‘ document published by Non Standard Finance