Barclays Private Equity paid £113.5 million to acquire a minority stake in Manchester-based secured lending company Jerrold Holdings.

Barclays Private Equity paid £113.5 million to acquire a minority stake in Manchester-based secured lending company Jerrold Holdings.

Jerrold, which was founded in 1973 and has a loan book of over £600 million, intends to use the new capital to continue its growth in the niche residential and commercial lending markets.

‘The company is forecasting growth higher than the market,’ says Barclays Private Equity director John Walker, who will join Jerrold’s board, ‘which reflects a continuing over-performance, the ability to roll-out its corporate lending beyond the North West and a very sleek, scaleable model.’