Small business funder LDF snapped up by US giant in “first step” of UK expansion

One of Britain’s biggest independent small business finance providers has been bought by a US alternative investment giant plotting expansion in the UK.

LDF, which boasts more than 10,000 clients across a range of business sectors, was today snapped up by White Oak Global Advisors.

San Francisco-based White Oak also specialises in the small and business sector with over $7bn of capital invested in 500 companies. The firm’s investment is its “first step” of expansion in the UK.

Chief executive Andre Hakkak said; “Europe represents a large opportunity for White Oak, and we are excited to grow our presence and activity in the region by welcoming LDF into the White Oak family.”

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Founded in 1986, LDF completed £500m of small business loans in 2017. Hakkak said it was “on an incredible growth trajectory”.

Meanwhile, LDF boss Peter Alderson said the White Oak transaction meant the firm was in for “a very exciting next few years”, adding:

While LDF has had a phenomenal growth story over the past three years, we are still barely scratching the surface of the opportunities that we see every day through our various channels of interaction with clients.

“White Oak share that view of the market and are willing to invest the capital and expertise to grow this businesses product and geographical reach.”

The takeover is subject to sign-off by the Financial Conduct Authority and is expected to complete in the next few months.

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