The funding was provided by RM Secured Direct Lending PLC.
With a combined loan book of £100m, the enlarged group will offer SMEs a wider range of services to help them thrive and grow.
Pietro Nicholls, portfolio manager at RM Funds, said that it was delighted to support Praetura in its acquisition of Kingsway Finance.
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“With a well-established mid-market enterprise, demonstrable cash flows and highly expertise management team, Praetura fits our selective investment criteria.”
RM Funds is a trading name of RM Capital Markets Limited, the investment manager to RM Secured Direct Lending.
Mike Hartley, managing director at Praetura Asset Finance (pictured above), added: “This is our second transaction alongside RM Funds and we were pleased that they were able to support us in providing this acquisition finance.
“We have ambitious growth targets for 2019 and see further opportunities to consolidate a fragmented speciality finance sector.”
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