Cheval acquired by Credit Investments
Credit Investments is owned by Colin Halpern, and Ellis Sher who spent seven years at Investec Bank, developing and expanding the bank’s private client structured finance capabilities.
Cheval has had a record year so far, which it said comes on the back of its efforts to establish an industry trade body, based on its own code of conduct, its commitment to regulation and total business transparency in the sector.
Benson Hersch, managing director of Cheval, said: “This is great news for Cheval and its customers. We have reached a level where further growth needs additional capital to develop the business. We could have continued to grow organically, but with Credit Investments now behind us, we have the backing to build a commanding position in this important market segment.”
Ellis Sher, director of Credit Investments, added: “We are delighted to be involved with a dynamic company like Cheval. We have been particularly impressed with its long-term plans and the energy and expertise of its staff. We have ambitious plans for the business and the sector and believe that the combination of a capital infusion, our active involvement and Cheval’s outstanding management team will mean Cheval can take its place as the premier brand in the bridging marketplace.”
Andy Moody, managing director of Loanoptions.co
.uk, said the aquisition was good news for Cheval. He said: “I am sure this will push Cheval’s business forward. It’s got to be a great thing for any business to have that kind of investment behind it, so it can develop further. It will benefit all involved and help Cheval build on the portfolio it already has. Cheval’s products are competitive and straightforward and as long as this remains the case, we will continue to work with it, especially as it offers a transparent and proactive service.”