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Y3S acquires Chaseblue Loans


Y3S acquires Chaseblue Loans

Y3S Group Limited has just announced that it has acquired 50 per cent of Chaseblue Loans Ltd.

In a deal that completed today, the growing financial loan broker, Y3S, revealed that it has acquired half of Chaseblue, a leading specialist in packaging secured loans and providing tailor-made bridging and commercial options.

It has been stated that Chaseblue will still continue to trade as a separate entity from its existing offices, where Director, Ben Gillespie will still be heading it up.

Y3S Group, which has more than doubled its profits year on year since 2011, has acquired Chaseblue Loans as part of a buy and build structure and therefore will further accelerate growth of the group and market presence in the financial sector. 

The new corporate structure will account for £6 million of second charge loan completions per month, introduced purely by intermediaries.

Commenting on the news, Barney Drake, Director of Y3S, said: We were attracted by the promising growth of Chaseblue under the directorship of Ben Gillespie, which fits into our portfolio and growth strategy. We are looking forward to progressing our expansion plans by working closely with the superb team at Chaseblue”.

Ben Gillespie, Director of Chaseblue said: "This opportunity made perfect sense for Chaseblue. We have made profit in every year we have traded, including those barren years of the credit crunch. We have done so by offering an honest, transparent and fair service to both our clients and introducers. We now get to draw upon the expertise of the biggest B2B broker in the market, this knowledge and experience will allow us to fulfill our planned growth faster and more effectively than before".

Nigel Greenaway, Director at Greenaway Scott in Cardiff led the transaction and said: It was a pleasure working with Y3S Group on this strategic step in their growth plans and very much look forward to the future and working with the company.

Chaseblue Loans was originally founded in 2006 by Hywel Loveluck and Ben Gillespie.  Mr Gillespie recently took over full ownership of the company.

 


 





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