Fox Williams is pleased to announce that it has advised Allica Bank on its successful acquisition of Tuscan Capital, representing Allica’s first foray into the bridging finance market.
Allica Bank is a fully licensed bank built especially for established businesses with between 5 and 250 employees. The acquisition will further extend Allica’s commercial finance product offering to include bridging and refurbishment finance, with a focus on semi-commercial and full commercial bridging, alongside Tuscan’s already excellent offering in residential bridging
The Fox Williams team was led by Corporate Partner Guy Morgan, supported by Corporate senior associate Stephanie Tsang and with assistance from other Corporate team members, in addition to support from other teams across the firm including Partner Jonathan Segal and senior associate Charlotte Eliasson of the firm’s dedicated Financial Services team, who provided expertise on the banking aspects of the transaction.
Fox Williams has advised Allica Bank previously on its equity raises of £100 million and £110 million.
Guy Morgan, corporate partner at Fox Williams, commented: “This transaction represents a significant step forward for Allica Bank as it continues to expand its influence in the specialist finance sector. Our team was proud to support Allica Bank in executing such a significant and exciting transaction, which adds to our already extensive credentials acting for digital banks on a wide range of matters.”
In the current economic climate, where SMEs face increasing challenges in accessing finance, this acquisition positions Allica Bank to better serve this crucial segment. The addition of Tuscan Capital’s expertise in bridging finance enhances Allica Bank’s ability to offer more flexible and responsive financial solutions, meeting the growing demand for specialist lending in an uncertain market. This strategic move underscores Allica Bank’s commitment to supporting the resilience and growth of UK SMEs during challenging times.
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Authors
Guy Morgan
Partner
Stephanie Tsang
Senior Associate
Jonathan Segal
Partner
Charlotte Eliasson
Senior AssociateFollow us online
