Foresight provides £25 million debt funding facility to Roma Finance

London: 2 May 2018: Funds managed by Foresight Group (“Foresight”) have provided a debt facility of up to £25 million to independent principal property lender, Roma Finance (“Roma” or the “Company”).

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Foresight worked with the Company to arrange an innovative financing facility tailored to Roma’s business model. The Foresight debt facility works alongside the Company’s existing traditional funding lines provided by RBS and Cambridge Building Society but provides the management team with more flexibility around the type of business they can write, and therefore will help to accelerate the business’s growth.

Based in Manchester, Roma provides short-term bridging finance to property developers, secured on residential, commercial and industrial properties, throughout England & Wales.

The Company has a strong track record, having completed just under 500 transactions since 2014. Since January 2018, the Company has grown its loan book by almost 50%.

Amy Crofton, Investment Manager at Foresight, commented: “We have been looking to enter the property bridging market for some time so we are pleased to be able to back Scott and his team at Roma, who have built a profitable, growing business with an exceptionally strong track record.”

Scott Marshall, Managing Director of Roma, commented: “We are delighted to receive this debt fund facility from Foresight Group. We have grown rapidly but carefully over the last four years, and the Foresight debt facility will enable us to take a step up to the next level and take advantage of a number of new opportunities. Amy and the Foresight team made sure they really understood what drives our business and where our operational pinch points are, making sure they structured the facility to solve these issues. We look forward to a long and successful relationship with Foresight”.

 

ENDS

 

For more information contact:

Ben Thompson, Foresight Group, bthompson@foresightgroup.eu | +44 (0)20 3667 8155

  

NOTES FOR EDITORS

 

Foresight’s Advisors:

Legal adviser and Legal Due Diligence: Osborne Clarke LLP

Financial Due Diligence: HMT LLP

 

Roma Finance’s Advisors:

Legal adviser: Eversheds Sutherland LLP

 

About Foresight Group LLP ("Foresight”):

Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.

Foresight has £2.8 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Property Relief (BPR). 

Foresight’s Private Equity team, comprising 22 investment professionals, invests between £100k and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs.

Foresight is an appointed equity fund manager for the Midlands Engine Investment Fund (MEIF), as the British Business Bank launched £100 million of equity funding for the region, as part of the wider £250 million Midlands Engine programme. Foresight will make equity investments of between c.£100k and £2m in growing small and medium sized businesses across the East and South-East Midlands.

Foresight is headquartered in London with regional UK offices in Manchester, Nottingham, Milton Keynes, Leicester and Guernsey and international offices in Sydney, Rome and Seoul.

www.foresightgroup.eu

 

About Romaco Limited (“Roma” or the “Company”) 

Romaco Limited trading as Roma Finance is a privately funded lender offering 1st and 2nd charge bridging loans secured on residential and commercial property. www.romafinance.co.uk

For more information contact Ron Bell at iDentus PR – tel: 07971 825279; email: identus@live.co.uk; www.identus.co.uk