THE independent asset manager BOOST&Co has tripled the size of its north and Scotland team, demonstrating its long-term commitment to serving SMEs across Scotland.
Ryan Sorby, who has led the alternative lender’s north-west base since it was established in 2018, is taking on a new role as head of the north and Scotland and is appointing three new principals to join his team.
Oliver Reece joins from Tosca Debt Capital and Seth Vaughan has moved from Lloyds Bank. Both are based in Manchester, while Adam Fearnley, who previously worked for NatWest and RSM, will work from Leeds.
The lender is keen to expand into Scotland because the country offers an excellent opportunity for investment, with a rich vein of fast-growing firms in sectors already covered by BOOST&Co, such as gaming, software, and food and drink.
BOOST&Co offers loans from £2m to £10m. It has a strong track record in technology, media and telecommunications (TMT), but supports firms in all sectors. It has funded more than £500m across more than 130 deals, and provided close to £200m under the government’s CBILS initiative to support UK SMEs during the Covid-19 pandemic.
Ryan Sorby, head of the north and Scotland at BOOST&Co, says:
“BOOST&Co already supports several Scottish businesses, most recently investing £3m in the technology partner Cloudstream, but our experience of working with these firms has demonstrated a clear need for additional, on-the-ground support that will enable us to tailor our products to the unique needs of Scotland’s SMEs.
“We’re investing more and more in the north and Scotland: these are areas where we’ve done high-quality deals over the past 18 months, and the calibre of the advisory base in these regions is fantastic.”
“The northern powerhouse is gaining a lot of traction in the media and also with the UK government, which will lead to increased focus, funding and support. Given this rise in investment outside London and southern England, we think it’s the perfect time to offer our tailored, flexible funding north of the border, too.”
