London, 25 August (Udaipur Kiran). Shawbrook Bank is currently engaged in exclusive negotiations to acquire ThinCats, a lending company focused on serving medium-sized businesses, according to a report by Sky News.
The potential deal is reportedly valued at around £180 million and follows an auction process overseen by Fenchurch Advisory Partners. The exclusivity period for these talks is expected to end soon.
If completed, the acquisition would enhance Shawbrook’s lending services to SMEs (small and medium-sized enterprises). ThinCats, which has a strong record of supporting businesses with funding, provided £381 million in loans for the year ending 30th June—slightly up from £378 million in the previous year. The company has seen a notable increase in lending to owner-managed businesses, particularly after the autumn budget last November.
To date, ThinCats has extended over £2 billion in loans to UK businesses, with assets under management nearing £1 billion. The company is led by CEO Amany Attia, who also holds a stake in the business. In 2021, ThinCats received a £160 million investment from New York-based Wafra Capital Partners, which is affiliated with a Kuwaiti state entity.
Neither Shawbrook nor ThinCats have commented on the ongoing discussions, according to the report.
Earlier this year, Shawbrook was in the news regarding its plans for a public listing, though market volatility has postponed its anticipated £2 billion flotation on the London Stock Exchange. The acquisition of ThinCats is expected to bolster Shawbrook’s alternative finance offerings as it prepares for its market debut.
Founded in 2011, Shawbrook employs nearly 1,600 people and serves over 500,000 customers. Originally specializing in savings and lending—including home improvement and wedding loans as well as business and real estate financing—the bank has recently considered several corporate moves, such as possible mergers and acquisitions involving Metro Bank, Starling Bank, and the Co-operative Bank.
Shawbrook is equally owned by BC Partners and Pollen Street, with the management team holding a minority stake. Marcelino Castrillo is the bank’s chief executive officer.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
