Dragonfly sets sights on acquiring bridging firm
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Dragonfly Property Finance has revealed it is on the acquisition trail and is carrying out due diligence on a bridging firm.
In Mortgage Strategy’s cover feature this week, Jonathan Samuels, chief executive officer of Dragonfly, says the firm hopes to take advantage of a number of bridging lenders that will fall by the wayside over the next few years. He predicts the sector will contract from the current 40 providers to around 20.
Samuels says: “It is unsustainable to have so many players in such a small market and we will see a few fall by the wayside, which means there is room for consolidation.”
In September Dragonfly acquired mezzanine lender Maslow Capital and Samuels says his firm is already in the first phases of due diligence with a couple of companies, one of which is a player in the bridging market.
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