ASK has built a strong working relationship with OakNorth Bank over the last five years, providing structured debt to its target market in a total of 45 joint transactions. Both companies’ business goals are very aligned and this corporate transaction will enable both parties to continue providing holistic funding solutions to customers, using senior bank funding along with other sources of risk capital. It cements a strong partnership between the two businesses as they pursue their corporate goals against a challenging economic backdrop.
ASK Partners will continue to operate as a fully independent entity with its team remaining in their offices on Harley Street.
Daniel Austin, CEO and Co-founder, commented:
“We are delighted that ASK has formalised its already very close working relationship with OakNorth Bank, through the sale of a stake in the company. Through our dealings with OakNorth over the last five years, we have got to know their business and team extremely well and consider this a natural, evolutionary step. We share very similar values and aspirations, and both companies are excited about the future and how we can assist one another to achieve each other’s goals, against a challenging economic backdrop. We strongly believe that the backing of a regulated bank will help ASK fulfil its long-term potential and create a greater range of finance options and investment opportunities for our clients.”
