AnaCap Financial Partners, a London-based private equity fund manager that specialises in the financial services sector, has acquired Ruffler Bank Plc for an undisclosed sum. 

AnaCap Financial Partners, a London-based private equity fund manager that specialises in the financial services sector, has acquired Ruffler Bank Plc for an undisclosed sum.

AnaCap intends to inject a further £80 million of equity into the bank over the next few years in order to fund an expansion of the bank’s lending to SMEs. Following AnaCap’s investment, the bank is expected to have a Tier One capital ratio of more than 40 per cent – one of the highest ratios of any UK bank.

Finlay McFadyen, co-head of M&A at AnaCap, said: “The bank has a very attractive deposit franchise with a well-established client base that provides an ideal foundation from which to build and grow a well-capitalised healthy bank in the current market environment.”

Phillip Monks, CEO of Ruffler, commented: “This opportunity to redefine the role of a bank at a time when so many competitors are distracted by the need to rebuild their balance sheets is compelling.

“As always, success will come from delivering high-quality, focused specialist support to specific market sectors, rather than trying to promote a wide range of unfocused products and services.”