The Essex-headquartered property management firm will use the funding to implement a new ‘buy and build’ strategy.
OakNorth has provided £2m of debt finance to Warwick Estates, which last year gained investment from Capita founder Sir Rod Aldridge.
The finance provided by OakNorth will be used to implement a ‘buy and build’ strategy to consolidate a highly fragmented market.
Warwick’s ambitions are to acquire numerous property management portfolios each year, with a particular focus on small to medium sized competitors who manage up to 10,000 units.
The group has already identified several attractive target businesses and is seeking to fully deploy OakNorth’s financing during 2018.
Commenting on the deal CEO, Dr Craig Stevens, said: “We are delighted to have partnered with OakNorth. Throughout the process we have been impressed by their approach and engagement with the business.
“With such an excellent partner on board, we are excited to continue looking for new acquisitions and expanding the Warwick brand, bringing our outstanding service to thousands more customers across the UK.”
Headquartered in Harlow, Essex, the group has additional offices in London, Cardiff, Grays, Warrington, Cheltenham and Portsmouth, and employs 115 people across the UK.
It engages in property management activities to leaseholders in communal buildings, acting as a managing agent appointed by the buildings’ management company.
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