Shawbrook Bank has added well-known deal-maker Deepak Parekh to its team in Birmingham led by Mark Parsons. With experience in both debt advisory services and debt funding , Parekh further strengthens Shawbrook’s presence in the Midlands where new lending has increased by over 35% year on year.
Tasked to deliver leveraged finance to mid-market SMEs (with and without sponsors), Parekh’s appointment signals Shawbrook’s intent to establish itself as a leading specialist SME lender by offering tailored funding for Management Buy-Outs, acquisitions, refinancing or growth.
The Shawbrook team based in central Birmingham has also expanded its reach across the East Midlands with the appointment of Steven Armstrong earlier in the year, having completed a number of complex transactions across multiple sectors in 2019 including sponsor-backed acquisition of Pinacl by Aliter Capital; growth-funding for leading door manufacturer JB Kind; and the acquisition of manufacturer Just Trays by leading bathroom supplier Kartell.
Parekh’s appointment comes as the Bank continues to expand its specialist SME offering, not just with new funding products including Growth Capital and Unitranche, but also its new digital savings proposition for UK small businesses.
Mark Parsons, Managing Director, Midlands at Shawbrook says:
“Deepak is well known across the business, sponsor and advisory communities here in the Midlands and we’re delighted he’s chosen to join us at Shawbrook. We’re focussed on delivering the expertise, the capabilities and the service that SMEs need, particularly as they get larger and their requirements get more complex. With high calibre people like Deepak, we’re in a great position to deliver truly specialist funding to businesses – we’re very happy to run towards complexity when others either run away or simply aren’t equipped to deal with it.”
Deepak Parekh, Senior Director at Shawbrook says:
“Over the past few years I’ve worked in both the UKs largest business bank and a boutique specialist Debt Advisory firm. At Shawbrook it feels like we have the best of both worlds - the products and flexibility you’d expect from a larger bank with the speed and agility you’d want from a fund. That’s why I joined Mark and the team and I’m looking forward to working with business owners and their advisors, offering something I know is very compelling and different.”