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Aldermore Bank joins FairFuelUK

POSTED: 6th August 2012
IN: Newsroom
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The fuel campaign group FairFuelUK has secured the backing and support of challenger bank Aldermore, the first to launch of a new generation of banks focusing on lending to Small and Medium Sized Enterprises (SMEs) in the UK.

Aldermore has identified that crippling petrol & diesel costs are stifling UK growth and hurting its tens of thousands of UK customers, but hardest hit are SMEs.

FairFuelUK is also backed by the RAC and the UK road freight community and over 300,000 members of the public.  Headed up by Quentin Willson, it is widely credited with saving UK businesses and motorist more than 11p per litre of extra fuel taxes since its launch in January 2011.  It's most recent success was the deferment of the 3p per litre hike planned for August.

Quentin Willson, national spokesman for FairFuelUK said:  "We welcome the support of Aldermore.  FairFuelUK is pleased to have the support of a Bank that understands about lending to Small and Medium Sized businesses.  It's a perfect philosophical fit'.

Damon Walford, Managing Director, Invoice Finance, Aldermore commented:  "Our focus is on helping the SME industry in whichever form that takes, whether that's lending to businesses or supporting a cause which directly affects them, we want to champion on behalf of the SME and I'm delighted Aldermore has joined FairFuelUK's campaign.

"The fuel rise planned for August has been rescinded but it is still due to be enforced in January 2013 and therefore, Aldermore in tandem with FairFuelUK, is hoping to bring the plight of the cost of fuel, once again to the Government's attention, not just in terms of the impact this will have on the SME but Britons in general, after all, it affects everyone."

Aldermore was launched in May 2009 and in just over three years, as at the end of June 2012, has total balance sheet assets of £2.1bn, with lending to SMEs at £900 million to more than 12,000 customers.

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About Aldermore

Aldermore is a new British bank and one of the best capitalised banks in the UK. With backing provided by AnaCap and Morgan Stanley Alternative Investment Partners, Morgan Stanley's Private Equity Fund of Funds business and new investment from the consortium of funds managed by Goldman Sachs Asset Management, Honeywell Capital Management and the Ohio Public Employees Retirement System, Aldermore raises deposits from consumers and lends to homeowners and small and medium sized businesses.

As a British bank, Aldermore is regulated by the Financial Services Authority and is registered under the Financial Services Compensation Scheme, which means customers' savings are protected up to the statutory limit of £85,000 per person. Aldermore is also a member of the Council of Mortgage Lenders.

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

Established in 2005, AnaCap is Europe's largest specialist private equity investment advisor in the financial services sector. Based in London and investing across Europe, AnaCap advises funds with more than €1 billion under management. AnaCap's funds invest in businesses with high growth potential and strong management teams. AnaCap works with management teams to improve infrastructure and business processes. It employs sophisticated, twenty-first century technology to create low cost, scalable, sustainable and highly digital based platforms. AnaCap's day-to-day support allows management to pursue growth strategies in the most efficient and effective manner.

AnaCap's team of professionals also assists investee companies in assessing and reducing key credit and market risks. This expertise in risk and liability management is a key factor in the strong performance of AnaCap's portfolio.

The success of AnaCap's investment strategy and team has attracted investment from highly regarded global institutional investors including Goldman Sachs, Allianz, Morgan Stanley Alternative Investment Partners, Honeywell, State of New Jersey and Adams Street Partners.

Press office: Lise Bulloch - 0161 238 5005 - email  Ingerlise.bulloch@aldermore.co.uk

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