Wells Fargo buys Burdale
Wells Fargo has completed the sale of Burdale Financial Holdings from the Bank of Ireland.
Burdale, which has an office in Birmingham, is a provider of comprehensive asset-based lending and operates in and across the UK. It was bought for an undisclosed sum.
Wells Fargo said Burdale is now part of Wells Fargo Capital Finance and will report to Guy Fuchs, head of the corporate finance group of Wells Fargo Capital Finance.
A spokesman for the company said: "We believe this acquisition to be positive for both our business and our customers.
"Like Burdale, Wells Fargo Capital Finance is a leader in asset-based lending with assets of $28bn and close to 1,700 staff worldwide.
"By bringing our businesses together, we expect to expand our asset-based financing capabilities over the coming years."
