Exponent acquired a majority stake in Enra in 2017 from management, led by founder and CEO Danny Waters, and Livingbridge. Over the last five years Enra has built out its management team, invested in systems and broadened its product offering by expanding into new areas of lending including development finance, buy-to-let and second charge mortgages as a compliment to its market-leading position within the bridge mortgage market.
Danny Waters, Enra’s founder and CEO, said:
“2021 was a record year for Enra in terms of gross lending and overall financial performance, and in the last eighteen months we have upsized our warehouse funding capacity, issued our second securitisation, and we have now sourced a new equity partner to support the business for years to come. This puts Enra in a fantastic position to further develop its lending and broking businesses. I would like to thank Exponent for their support over the last few years, and I look forward very much to leading the business to further success in partnership with the Elliott team.”
Mark Taylor from Exponent Private Equity said:
“It has been a privilege to partner with Danny Waters and his team. Since we backed Enra in 2017 the business has grown into the leading non-bank mortgage lender in the UK, underpinned by its best-in-class distribution, credit performance and growth. We are delighted with the outcome and are confident Enra will continue to thrive with Elliott Advisors’ backing.”