Praetura Asset Finance is moving to larger premises following expansion as well as planning for future growth.
The independent asset finance funder was founded in 2013. Its recent acquisition of Wilmslow-based Kingsway Finance has created one of the largest independent asset finance companies in the UK, with a combined loan book of over £100m.
The business opened with eight members of staff, operating from one 1000sq ft room at Haydock House in Blackburn. By the end of 2017, the numbers had grown to 20 and they had taken over the whole of the ground floor.
The company now has over 30 employees, with plans in place to increase this further in 2019. The move to larger premises is necessary to accommodate this as well as the company’s plans for the future development of the business.
Praetura Asset Finance is now based at their new corporate headquarters: Ewood House on Walker Park in Blackburn, a 5,875sq ft space across two floors.
The move to the new building will coincide with the unveiling of the company’s new branding.
The business was advised by David Hill, partner in the commercial property team at regional law firm Napthens’ East Lancashire office in Blackburn, who will be one of Praetura’s new neighbours on Walker Park.
Mike Hartley, managing director at Praetura Asset Finance, said: “Haydock House has been a fantastic home for us over the last five years, but the business has expanded and is continuing to do so.
“2019 is going to be a huge year for us in terms of development and growth. We felt it was time to move to bespoke premises and are absolutely delighted to have found the perfect HQ for our business, in Ewood House at Walker Park.
“The move gives us the ideal home from which to take the business onwards and upwards, with the scope to double our workforce and help more of the UK’s SMEs to thrive and grow, by offering them flexible funding solutions that are adaptable to the needs of their business.”
Hill added: “Praetura’s expansion has been marked in recent years and the new HQ will allow for significant further expansion and a new phase of growth.”