Houston, TX-based Brightlane Corp. (OTCMKTS: BTLN) completed its acquisition of U.K.-based Vatbridge Limited, a Colchester, UK-based specialty financing company for commercial properties.
The amount of the deal was not disclosed. As a result of it, Vatbridge will become a wholly owned subsidiary of Brightlane.
Led by Laurence Rutter, Vatbridge is a large specialty finance lender for VAT (Value Added Tax) bridging loans for commercial real estate purchases. They provide secured short-term funding for VAT registered U.K. limited companies to pay the VAT due on the purchase of commercial land and property in England, Scotland or Wales, where the purchaser exercises an option to tax.
The acquisition is part of Brightlane’s expansion plans of both geographic markets and portfolio of services. This deal will accelerate its real property and specialty financing products and promote a shift towards service businesses that utilize proprietary horizontal Software as a Service (SaaS) platforms. The company is also expanding its business horizon to include new-build, multi-tenant projects and management services to be implemented under its “Smart Foundations” program, which considers the tenant’s credit over term, smart identity and accessibility and supports the realization of captured market share.
Led by Steve Helm, chief executive officer, Brightlane is a specialty financing and tenancy company operating in the multi-tenant and affordable housing market sector through various rental, lease and right-to-purchase options. The company operates on a national scale to execute the acquisition and effective management of right-priced, real property via experienced management and strategic partners.
FinSMEs
15/04/2019