ThinCats appoints new senior director to strengthen private equity focus
ThinCats, the leading alternative finance provider to mid-sized SMEs, has announced today the appointment of Neil Patel as a new senior director, focussing on funding for sponsor backed businesses.
Neil brings a wealth of experience within the banking and finance industry, having previously worked at KPMG, Lloyds, and GE Capital Acquisition Finance. He joins ThinCats from Santander where he has spent the last six years as a director of structured finance and financial sponsors.
Working alongside Dave Sherrington (regional head of sales & PE) and ThinCats’ specialist private equity team, Neil will play a key role in servicing the increasing levels of demand for funding to support the growth ambitions of mid-sized SMEs. The investment represents ThinCats’ increasing appetite to support the sector, having lent more than £150m to sponsor backed businesses in the last 18 months.
ThinCats recently announced a significant strategic investment of £160m from Wafra Capital Partners (WCP). The investment from WCP, alongside senior bank and institutional funding, enables ThinCats to lend a further £2bn over the next few years.
Neil Patel, senior director, Sponsors: “I’m excited to be joining a team with a real focus on supporting and funding mid-sized SMEs and look forward to working with the team to grow our private equity offering.”
Dave Sherrington, regional head of sales & PE: “It’s great to welcome Neil to ThinCats, with his expertise in the market he makes a fantastic addition to the private equity team. With M&A activity buoyant, he joins us at an important time as we continue to deliver vital funding to mid-sized SMEs.”
Mike Hackett, head of business development: “The specialist team we have built in the last 2 years to support this sector of the market has been hugely successful. I’m excited to see Neil support the team in nurturing existing sponsor partnerships and developing new relationships.”