Barclays Private Equity has acquired a stake in residential and commercial property lender Jerrold Holdings in a £113.5 million deal.
The money will be used by Jerrold to fund the continued growth of the Manchester company which operates under the brand names of Blemain, Cheshire and Lancashire Mortgage Corporation and Bridging Finance.
The growth will involve expanding its operations to other parts of the UK including potentially the Midlands.
Jerrold has grown since it was founded in 1973 by Henry Moser and Barrie Pollock to employ 220 people and have a loan book of £600 million.
The Barclays Private Equity team included Catherine Wall, a director in the Birmingham office, who becomes an advisor to the board of Jerrold Holdings, and John Walker, a director at Barclays Private Equity's Manchester office, who becomes a non-executive director.
The business is led by sales director Marc Goldberg, finance director Gary Beckett and non-executive director Joe Shaoul.
A non-executive chairman is also to be appointed.
Mr Walker said Jerrold operated in an attractive niche area of the lending market.
He said: "The business offers a diverse and innovative product range focusing on its service levels and speed in which it can react to the market and customers changing needs; attributes that many lenders do not possess.
"Future market indicators are positive. The company is forecasting growth higher than the market, which reflects a continuing over-performance, the ability to roll-out its corporate lending beyond the North West and a very sleek, scaleable model."