Directors Duncan Kreeger and Stephen Wasserman will join the Enterprise board chaired by David Campbell and Enterprise chief executive Danny Waters (pictured).
David Kreeger, founder of West One, will remain in the company while Mark Abrahams, a director within the lender, will leave following the sale of his shares.
In April, Enterprise was named the fifteenth fastest growing company in the UK according to The Sunday Times‘ Profit Track 100 league.
The firm is backed by ISIS Equity Partners which currently has £1.2bn of funds under management and is one of the leading private equity houses in the SME market.
Chief financial officer Emily Gestetner described the deal as ‘unconventional’ in that a broker firm is acquiring a lender. But she added that there were ‘synergies’ between the two companies which would help the group grow as a whole.
Waters said: “We have known the West One Loans team for a long time. Over the past six years we have watched the business grow from a concept to what it is today – an established, financially robust and proven bridging lender with over £100m of loans under management.
