Nigel Smith, the founder of BloomSmith Funding Solutions, has shared his delight after confirming the acquisition of VAT Bridge UK in a move that he describes as "a natural fit for our long-term growth strategy".
VAT Bridge UK, which ostensibly provide loans to cover the VAT due on commercial property purchases, will now come under the BloomSmith umbrella and Smith says it is a hugely positive addition, one he is excited about and, he says, may be the first among other deals.
Smith launched the founding VAT bridging business back in 2015 to address funding and LTV shortfalls in the lending market similar to the funding and LTV shortfalls that have been seen in recent times. Impressive growth has seen the flourishing business go from strength to strength and the purchase of the second largest provider VAT Bridge UK is being hailed as a great example of that growth.
And Smith, who prior to BloomSmith, founded Gilbran, the UK’s first specialist real estate investor and developer dedicated to the automotive industry, explained:
"This acquisition really is a natural fit for what we see as our long term growth strategy.”
"VAT Bridge UK has great broker contacts and distribution, so bringing it under the BloomSmith umbrella and consolidating staffing will enable us to provide existing VAT Bridge UK customers with an improved, even better, lower cost funding solution.”
"Acquiring VAT Bridge UK allows us to strengthen the brand -- we are fully committed to Incorporate VAT Bridge UK into the BloomSmith platform -- as well as provide expansions in funding."
Smith says there is a very real desire to consider future acquisitions to potentially enhance the growing reputation of BloomSmith Funding Solutions; the firm says they will provide "100 per cent of the VAT funding needed, in 48 hours, with no legal charge taken on the property".
He added:
"Yes, it is certainly the case that we are open to other acquisitions, and interested parties can contact our joint CEO, Neil Petty, to discuss. You can call Neil on 07970740360 or you can email him at neil@bloomsmith.co.uk. We look forward to hearing from you."
VAT Bridge UK's vast network of commercial finance brokers is seen as another huge asset pivotal to the continued development of BloomSmith, predominately lending to experienced borrowers who understand the benefit of how an intelligent transaction structure is preferable over a fixed legal charge.
And all the evidence suggests the move will bolster the firm's continued growth in the market. in the final analysis, it seems it's very much a case of "watch this space" as far as BloomSmith VAT Funding is concerned.