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5D acquires InterBay Commercial

InterBay Commercial was sold by its US parent Bayview Financial to rival UK commercial lender 5D Group for an undisclosed sum last week.

The deal was originally struck in late August and formalised on September 10.

The firms will now merge and relaunch under the InterBay Commercial brand.

The company will trade out of InterBay Commercial’s headquarters in Fareham under the leadership of managing director Colin Bell. Redundancies are likely to be made.

5D Group was launched in 2006 and its funds are managed by investment firm Cabot Square Capital.

Bell says: “We now have a great opportunity to merge with 5D and relaunch our company with the strong financial backing of our new parent.

“We’ve spoken with our broker partners and are working through our pipeline to ensure they and potential borrowers are treated fairly during this period of change.”

top 10 stories online thiS week1. Losses at mutuals prompt merger (08/09)2. Sesame to support ARs from failing networks (11/09)3. 80 Prestbury ARs transfer to Personal Touch (09/09)4. InterBay sold to 5D (10/09)5. ANALYSIS: Show of strength from Nationwide (08/09)6. Mark Blackwell joins Xit2 as sales director (09/09)7. Cantor predicts 19% house price fall by 2010 (10/09)8. Nationwide may close processing centres (11/09)9. House prices up 76% in Liverpool (08/09)10. RBS Intermediary Partners appoints head of sales (08/09)

Ranked by number of hits on, week ending September 12 2008


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