Working closely with the funding partner, GB Bank established a bespoke structure designed to support the transaction while meeting the commercial objectives of all parties.
The acquisition, completed through Defaqto, involves total cash consideration of £11.0m, comprising an initial £7.5m payment and £3.5m in deferred consideration.
Liam Scott said: “This investment strengthens Persimmon’s strategic land platform and supports our broader growth ambitions."
Shawbrook said the acquisition of ThinCats represents an investment in accelerating the growth of it's existing presence in the specialist SME lending market.
Yates Hellier entered a new chapter with this acquisition, following on from the launch of its flagship sales branch on Glasgow's Hyndland Road in Spring 2024.