White Oak UK has moved all of its employees from Stewarton in Ayrshire to Glasgow after opening its headquarters in the city on 58 Waterloo Street.
White Oak UK has signed a long-term lease for its office in the building on Waterloo Street, which is centrally located in Glasgow’s financial district and close to all major transport hubs.
Peter Alderson, managing director of White Oak UK said “The opening of our new office in Glasgow represents a significant milestone for White Oak UK in its objective to help businesses thrive while providing the highest levels of service and solutions. Our geographic footprint perfectly reflects our commitment to financing businesses across the UK with key offices in Wales, England and Scotland.”
In 2018, White Oak UK arranged funding of approximately £520m giving thousands of businesses across the UK access to simple, un-bureaucratic business finance solutions. Additionally, the firm announced in last year that it has passed the £1bn mark in lending on its own book.
The decision to invest in Glasgow was driven by the city’s recent regeneration, superior business infrastructure and growing commercial profile. The firm has been actively recruiting in Glasgow. The Waterloo Street office is close to many of White Oak UK’s clients.
White Oak UK completed approximately 14,000 deals in 2018 and the average deal size was £40,000, said the business
Previously known as LDF and owned by private equity firm Cabot Square, White Oak UK was acquired by White Oak Global Advisors in June 2018 and rebranded in July 2018.
The rebrand coincides with what White Oak said will be an expansion of business in the mid-market enterprises segment. The business also hired Paul Roberts, who previously spent 13 years at Lombard and five at Yorkshire Bank, as head of specialist finance.
At the time, the investment advisory and financial services group called Europe “a large opportunity” for its commercial lending operations, and LDF added it would look to introduce US “product capability” in the British market.
The group has already unveiled one of the deals written under the White Oak UK label, a financing package to British Steel for £90m.