Which UK lenders fund management buyouts?
The answer
60 lenders in Solon's directory list management buyouts among the deals they fund. By type, they are 8 clearing banks, 18 asset-based and asset-finance lenders, 10 challenger and specialist banks, 3 regional and government-backed funds and 21 private-credit funds. A further 3 lend at sizes above the lower mid-market: Ares Management, Barings and Pricoa Private Capital (PGIM Private Capital).
Answered by Solon Corporate Finance from the lenders’ own published terms · Last reviewed 27 September 2026
How this list is drawn
A lender appears here when management buyouts are among the deal types on its profile. Deal types come from each lender's own published material, and every profile carries the month it was last reviewed.
What to know
A management buyout is usually financed with senior debt sized to what the business can service, often alongside deferred consideration from the vendor and equity from the management team. Clearing and challenger banks lend to the cleanest credits at the lowest cost. Asset-based lenders add headroom where the balance sheet carries receivables and stock. Private-credit funds stretch further on leverage and structure, at a higher price.
Which of them fits depends on the gap between the price agreed with the vendor and what the cash flow can carry. The guide to financing a management buyout works through the structures and the numbers.
The lenders60
Clearing & relationship banks8
| Lender | Type | What they lend | Published range | Reviewed |
|---|---|---|---|---|
| Bank of Ireland UK | TypeClearing banks · Clearing & relationship | LendsLeveraged / acquisition finance | RangeNot published | ReviewedJun 2026 |
| Barclays | TypeClearing banks · Clearing & relationship | LendsSenior term loan, Revolving credit facility (RCF), Asset-based lending (ABL) | Rangefrom £3m | ReviewedJul 2026 |
| HSBC UK | TypeClearing banks · Clearing & relationship | LendsSenior secured term loans, revolving credit facilities, trade and working-capital finance | Rangefrom £5m | ReviewedJul 2026 |
| Lloyds Bank | TypeClearing banks · Clearing & relationship | LendsSenior term loan, revolving credit facility, acquisition / capex facilities | Rangefrom £5m | ReviewedJul 2026 |
| NatWest | TypeClearing banks · Clearing & relationship | LendsBilateral term loan, Revolving credit facility (RCF), senior syndicated / club loan | Range£1m–£30m | ReviewedJul 2026 |
| Santander UK | TypeClearing banks · Clearing & relationship | LendsSenior term debt, revolving credit / working-capital facilities, invoice finance | Rangefrom £3m | ReviewedJul 2026 |
| Ulster Bank | TypeClearing banks · Clearing & relationship | LendsTerm loans, acquisition finance, real estate investment and development finance | RangeNot published | ReviewedSep 2026 |
| Virgin Money | TypeClearing banks · Clearing & relationship | LendsStrategic / acquisition finance | RangeNot published | ReviewedJun 2026 |
Asset-based & asset-finance lenders18
| Lender | Type | What they lend | Published range | Reviewed |
|---|---|---|---|---|
| 4Syte | TypeAsset-based · Asset-based lending | LendsAsset-based lending, invoice finance | Rangeup to £4m | ReviewedJun 2026 |
| Aurelius Finance Company | TypeAsset-based · Asset-based lending | LendsHybrid ABL + senior cashflow facility | Range£5m–£40m | ReviewedJun 2026 |
| Bibby Financial Services | TypeAsset-based · Invoice finance | LendsInvoice discounting, invoice factoring, Asset-based lending (ABL) | Rangeup to £50m | ReviewedJul 2026 |
| BNP Paribas Commercial Finance | TypeAsset-based · Asset-based lending | LendsAsset based lending, invoice finance | Range£500k–£50m | ReviewedJun 2026 |
| Breal Zeta Commercial Finance | TypeAsset-based · Asset-based lending | LendsStructured / special-situations ABL | Range£20m–£200m | ReviewedJun 2026 |
| Close Brothers Invoice Finance | TypeAsset-based · Asset finance & leasing | LendsInvoice discounting, factoring, asset-based lending (multi-asset revolving) | Range£350k–£3m | ReviewedJul 2026 |
| Independent Growth Finance | TypeAsset-based · Asset-based lending | LendsMulti-asset ABL | Range£2m–£25m | ReviewedJun 2026 |
| Leumi ABL | TypeAsset-based · Asset-based lending | LendsAsset-based lending (combined/structured), invoice discounting / receivables finance, stock / inventory finance | Range£3m–£100m | ReviewedJul 2026 |
| Nucleus Commercial Finance | TypeAsset-based · Invoice finance | LendsInvoice finance (factoring & discounting) / asset-based lending | Rangeup to £50m | ReviewedAug 2026 |
| PNC Business Credit | TypeAsset-based · Asset-based lending | LendsABL revolving line of credit, secured term loan, cash flow term loan | Range£5m–£250m | ReviewedJul 2026 |
| Praetura Commercial Finance | TypeAsset-based · Asset-based lending | LendsConfidential invoice discounting, stock revolver, plant and machinery term loan | Range£350k–£35m | ReviewedJul 2026 |
| Pulse Finance (formerly Pulse Cashflow Finance) | TypeAsset-based · Invoice finance | LendsInvoice factoring, invoice discounting, trade finance | Rangeup to £5m | ReviewedJul 2026 |
| Reward Finance Group | TypeAsset-based · Asset-based lending | LendsAsset-based lending (multi-asset), revolving credit facility, short-term property bridging (first and second charge) | Rangeup to £5m | ReviewedJul 2026 |
| Secure Trust Bank Commercial Finance | TypeAsset-based · Asset-based lending | LendsInvoice discounting / invoice finance (receivables), stock and inventory finance, plant, machinery and vehicle finance | Range£5m–£50m | ReviewedJul 2026 |
| Skipton Business Finance | TypeAsset-based · Invoice finance | LendsInvoice finance, asset based lending | Range£1m–£25m | ReviewedJun 2026 |
| Time Finance plc | TypeAsset-based · Invoice finance | LendsInvoice factoring, confidential invoice discounting, hire purchase | Rangeup to £3.5m | ReviewedJul 2026 |
| Ultimate Finance | TypeAsset-based · Asset-based lending | LendsStructured finance | Range£500k–£10m | ReviewedJun 2026 |
| Upstream ABL | TypeAsset-based · Asset-based lending | LendsStructured asset based lending, invoice finance, trade finance | RangeNot published | ReviewedAug 2026 |
Challenger & specialist banks10
| Lender | Type | What they lend | Published range | Reviewed |
|---|---|---|---|---|
| Aldermore Bank | TypeChallenger & specialist · Challenger banks | LendsAsset-based lending (ABL), invoice finance / receivables discounting, asset finance — hire purchase | Rangeup to £50m | ReviewedJul 2026 |
| Allica Bank | TypeChallenger & specialist · Challenger banks | LendsOwner-occupied commercial mortgage, investment commercial mortgage, bridging finance | Rangeup to £15m | ReviewedJul 2026 |
| Arbuthnot Latham | TypeChallenger & specialist · Private & merchant banks | LendsAsset-based lending (invoice discounting core), stock / inventory finance, plant-and-machinery finance | Range£1m–£35m | ReviewedJul 2026 |
| Close Brothers | TypeChallenger & specialist · Challenger banks | LendsAsset-based lending (ABL), invoice finance (factoring & discounting), asset/equipment finance (hire purchase, finance & operating lease, refinance) | Range£3m–£65m | ReviewedJul 2026 |
| Cynergy Bank | TypeChallenger & specialist · Challenger banks | LendsCommercial mortgage / investment & owner-occupier property lending, professional buy-to-let and mixed-use property finance, asset-based lending (receivables, inventory, plant & machinery, property) | Rangeup to £40m | ReviewedJul 2026 |
| Investec | TypeChallenger & specialist · Private & merchant banks | LendsBilateral senior debt, unitranche, subordinated / mezzanine debt | Rangeup to £100m | ReviewedJul 2026 |
| Metro Bank | TypeChallenger & specialist · Challenger banks | LendsSenior term loans, commercial mortgages, Asset-based lending (ABL) | Range£2m–£50m | ReviewedJul 2026 |
| OakNorth Bank | TypeChallenger & specialist · Challenger banks | LendsSenior term loan (amortising and non-amortising), acquisition / management-buyout finance, working-capital facilities | Range£1m–£50m | ReviewedJul 2026 |
| Secure Trust Bank | TypeChallenger & specialist · Challenger banks | LendsAsset-based lending (multi-asset), invoice finance / invoice discounting, stock & inventory finance | Range£3m–£50m | ReviewedJul 2026 |
| Shawbrook Bank | TypeChallenger & specialist · Challenger banks | LendsSenior cashflow leverage (term loan, EBITDA-multiple sized), unitranche (sponsor-backed), Asset-based lending (ABL) | Range£3m–£50m | ReviewedJul 2026 |
Regional & government-anchored funds3
| Lender | Type | What they lend | Published range | Reviewed |
|---|---|---|---|---|
| Development Bank of Wales | TypeRegional funds · Regional & government-anchored funds | LendsWales flexible investment fund, wales business succession fund | Rangeup to £10m | ReviewedJun 2026 |
| Maven Capital Partners | TypeRegional funds · Regional & government-anchored funds | LendsPrivate equity — VCT growth / MBO / buyout, regional debt funds — commercial term loans | Rangeup to £20m | ReviewedJun 2026 |
| Mercia Debt | TypeRegional funds · Regional & government-anchored funds | LendsEvolution fund / national flexible debt, Mercia business loans / MEIF II west Midlands | Rangeup to £8m | ReviewedJun 2026 |
Private-credit & direct-lending funds21
| Lender | Type | What they lend | Published range | Reviewed |
|---|---|---|---|---|
| Beach Point Capital | TypePrivate credit · Unitranche & senior direct | LendsEuropean lending solutions | Range£2m–£5m | ReviewedAug 2026 |
| Beechbrook Capital | TypePrivate credit · Unitranche & senior direct | LendsSenior secured, unitranche, subordinated / junior debt | Range£5m–£25m | ReviewedJul 2026 |
| Blazehill Capital | TypePrivate credit · Mezzanine & special situations | LendsStructured secured / hybrid ABL + cashflow term facilities | Range£10m–£150m | ReviewedJun 2026 |
| Caple | TypePrivate credit · Unitranche & senior direct | LendsSenior unsecured | Range£500k–£5m | ReviewedJul 2026 |
| Connection Capital | TypePrivate credit · Unitranche & senior direct | LendsDirect private debt | Range£3m–£10m | ReviewedJun 2026 |
| Cordet Capital | TypePrivate credit · Unitranche & senior direct | LendsSenior secured direct lending, direct lending plus+ | Range£4m–£25m | ReviewedJun 2026 |
| Duke Capital | TypePrivate credit · Mezzanine & special situations | LendsRoyalty financing (corporate mortgage) + equity kicker | Range£5m–£30m | ReviewedAug 2026 |
| DunPort Capital Management | TypePrivate credit · Unitranche & senior direct | LendsUnitranche / senior secured direct lending, junior / subordinated & holdco capital | Range£3m–£15m | ReviewedAug 2026 |
| Eurazeo (Private Debt) | TypePrivate credit · Unitranche & senior direct | LendsSenior secured / unitranche, subordinated debt, leveraged loans (syndicated senior) | Range£4.2m–£85m | ReviewedJul 2026 |
| Harwood Private Capital | TypePrivate credit · Mezzanine & special situations | LendsFlexible capital — unitranche / subordinated debt, preferred / minority equity | Range£3m–£20m | ReviewedAug 2026 |
| Hilco Capital | TypePrivate credit · Mezzanine & special situations | LendsAsset-based lending, special situations investment | Range£1m–£10m | ReviewedAug 2026 |
| Kartesia | TypePrivate credit · Unitranche & senior direct | LendsSenior secured (first lien), unitranche, subordinated / junior | Range£8.5m–£60m | ReviewedJul 2026 |
| Muzinich & Co. | TypePrivate credit · Unitranche & senior direct | LendsSenior secured (first lien), unitranche, second lien | RangeNot published | ReviewedJul 2026 |
| Pictet Asset Management | TypePrivate credit · Unitranche & senior direct | LendsEuropean direct lending | Range£13m–£35m | ReviewedAug 2026 |
| Praetura Lending | TypePrivate credit · Growth & venture debt | LendsBusiness / cash-flow & structured growth lending, ABL / invoice finance, asset finance | Rangeup to £35m | ReviewedJun 2026 |
| Prefequity | TypePrivate credit · Unitranche & senior direct | LendsFlexible debt-based growth capital | Range£5m–£25m | ReviewedAug 2026 |
| Shard Credit Partners | TypePrivate credit · Unitranche & senior direct | LendsSenior secured unitranche / stretched senior, Second lien / mezzanine / PIK | Range£5m–£15m | ReviewedJul 2026 |
| SME Capital | TypePrivate credit · Unitranche & senior direct | LendsBespoke cashflow term loan | Range£500k–£15m | ReviewedJul 2026 |
| ThinCats | TypePrivate credit · Unitranche & senior direct | LendsSenior secured term loan, unitranche, transitional capital / acquisition bridge | Range£1m–£30m | ReviewedJul 2026 |
| Tosca Debt Capital | TypePrivate credit · Unitranche & senior direct | LendsStructured debt | Range£10m–£30m | ReviewedJul 2026 |
| Triple Point | TypePrivate credit · Unitranche & senior direct | LendsSenior term loan, unitranche, asset finance / hire purchase | Range£1m–£10m | ReviewedJul 2026 |
Above the lower mid-market
A reference list drawn from each lender’s published material, informational and not a ranking or a recommendation. Each name links to the lender’s profile, where the sources are listed.