Private equity firms Cerberus and Warburg Pincus have teamed up on a joint bid for alternative lender Aldermore. The sale process could value the company at more than £1.4bn.
Aldermore's owner, South African financial services group Firstrand, put the company up for sale earlier this year. This followed the company's motor lending division, Motonovo, being involved in the motor finance misselling scandal.
Other reported suitors for Aldermore include Investec and Nationwide. Lloyds is also understood to have submitted a bid, while private equity firms JC Flowers and CVC have made a joint offer.
Aldermore reported a profit of £193.5m in 2025, a decrease from £253.5m in the previous year. The company offers mortgages, savings accounts, and business loans, in addition to motor finance.