Burdale Financial Limited (Burdale), a Wells Fargo company said that it will adopt the trade name Wells Fargo Capital Finance. Wells Fargo Capital Finance is a leader in asset-based finance in the U.S., and acquired Burdale in February 2012. Wells Fargo’s ownership has helped Burdale increase their earning assets by 167%, double their client base, expand the team by 40%, and increase its product offerings and activities. The Burdale acquisition also enabled Wells Fargo Capital Finance to successfully launch its technology finance product in the UK in 2013.
“Since Burdale was acquired we have enjoyed tremendous growth: doubling the number of clients we support, and more than doubling the amount of capital we provide to clients,” said Steven Chait, managing director and head of Burdale. “As a 22 year veteran of Burdale, I am extremely pleased with the support that Wells Fargo has brought to the U.K. market. Our business is stronger than ever and our commitment to delivering financial solutions to help our clients succeed financially has and always will remain our number one priority.”
“The Burdale acquisition helped expand our presence in Europe, allowing us to support the cross-border financial needs of our North American clients in addition to supporting our European-based clients,” said Guy Fuchs, head of the Corporate Finance Group within Wells Fargo Capital Finance. “We look forward to further leveraging the Burdale team’s cross-border lending expertise under the Wells Fargo Capital Finance name, helping even more clients tap into their foreign operations to fund growth.”
Wells Fargo Capital Finance is the trade name for certain asset-based lending services, senior secured lending services, accounts receivable and purchase order finance services, and channel finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialised senior and junior secured financing, accounts receivable financing, purchase order financing and channel finance to companies across the United States and internationally. Dedicated teams within Wells Fargo Capital Finance provide financing solutions for companies in specific industries such as retail, software publishing and high-technology, commercial finance, staffing, government contracting and others.
Burdale Financial Limited, a Wells Fargo Company, provides comprehensive asset-based lending to a wide spectrum of companies across the U.K. with credit needs ranging from £10 million upwards. Established in 1992 and with offices in London, Birmingham and Manchester, Burdale provides flexible financing options for companies facing a variety of situations, including: growth, leveraged buyouts, refinancings, restructurings, early and mid-staged turnarounds, mergers and acquisitions.