Mercia swoops for SME lender
Fund manager Mercia has bought SME lender Frontier Development Capital (FDC) in a deal worth up to £9.5m.
The deal brings together two Midlands-headquartered organisations focused on businesses in the UK regions.
Mercia chief executive Mark Payton said the acquisition "represents an important strategic milestone" for the company.
FDC, which is based in Birmingham and has offices in Manchester and Bristol, was launched in 2016 and now has £415m of funds under management.
It was majority-owned by its senior management team... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
