The Blemain Group, which operates under brands including Blemain Finance, Cheshire Mortgage Corporation, Lancashire Mortgage Corporation and Bridging Finance Limited, employs more than 220 people, has a loan book of over £600 million and completes around 1,500 cases per month.
Marc Goldberg, board director at The Blemain Group, commented: “The success of the business and the significant growth we have achieved is a result of the relationships we have developed with the broking community and the innovative products that we deliver.
“Our partnership with Barclays Private Equity will enable us to significantly outperform market growth and increase our market share by building the core business and continuing to lead innovation in those sectors. Combined with this, we also have plans to launch into new sectors and work in partnership with brokers to develop products that add intrinsic value to their businesses, while we will also be looking to expand geographically too. We believe that this strategy will assist us with our ambitious growth plans to double our lending.”
John Walker, director at Barclays Private Equity, who will sit as non-executive on the board, commented: “The Blemain Group operates in an attractive niche area of the lending market, offering a diverse and innovative product range and focusing on its service levels and speed in which it can react to the market and customers changing needs; attributes that many lenders do not possess. Future market indicators are positive. The company is forecasting growth higher than the market, which reflects a continuing over-performance, the ability to roll-out its corporate lending beyond the North West and a very sleek, scaleable model.”
Goldber added: “We chose Barclays Private Equity because of the team’s solid reputation and extensive experience of the secured lending market in the UK. The investment marks a further successful milestone for us and is a credit to the dedication of the management team and the hard work, support and commitment of all staff within the business.”
