Short-term lender Tenn Capital acquires Oaklands

Oaklands is based in Jersey, and the deal will give Tenn Capital a presence in both Guernsey and Jersey as it readies to broaden its lending activity in the Channel Islands. 

Oaklands offered bridge and short-term development finance while Tenn Capital provides short-term loans against UK and certain international residential real estate to high-net-worth borrowers for purchase, finance or to release equity. 

Loans sizes start from £250,000. 

Matt Watson, CEO of Tenn Capital, said this was an “important milestone” for the lender which has “grown rapidly” since launching in 2021. 

He added: “We have a clear vision for the business and having a significant presence in Jersey is a key part of our ambitious growth plans.  

“We think the lending market is primed for consolidation as high-quality originators and operators seek out stable and reliable funding for their clients. Tenn intends to be active in this process.” 

Watson said he was confident that the Oaklands team would deliver a “fantastic, responsible lending service to both the local Jersey market as well as providing innovative financing solutions to the international corporate service provider market.” 

He added: “The pace at which this deal completed highlights how aligned both businesses are. We are all delighted with the outcome and the exciting growth potential this provides.” 

‘Combining businesses makes strategic sense’

Steve O’Brien, managing director of Oaklands, said: “We are delighted to join forces with Tenn Capital. The lending space is going through an adjustment process with rising interest rates and inflation at 30-year highs. Combining two businesses that complement each other makes strategic sense and we are incredibly excited about our future as part of the Tenn family. 

“We share the same core values as Matt and his team which will make the integration process relatively seamless. With the significant funding lines available to Tenn, we now have the capability to offer.”