Shawbrook Group, the specialist UK savings and lending bank, goes public on the London Stock Exchange

Pollen Street Capital and BC Partners portfolio company Shawbrook Group (“Shawbrook” or “the Company”) priced its initial public offering (“IPO”) on the London Stock Exchange on 30 October 2025 at 370 pence per share, and closed at 395 pence at the end of the first day trading, valuing the Company at just over £2bn. The IPO, which was executed via a placing to institutional and retail investors, was multiple times oversubscribed and represents the largest public offering by a domestic firm on the London Stock Exchange since 2021.

Pollen Street Capital has been a strong supporter of Shawbrook Group since its founding in 2011. Shawbrook subsequently listed on the London Stock Exchange in 2015. In July 2017, a consortium jointly led by Pollen Street Capital and BC Partners acquired Shawbrook Group plc in a public-to-private transaction. As part of this transaction, Pollen Street Capital funds transferred their shareholding into the consortium’s acquisition vehicle, further reinforcing Pollen Street’s long-term commitment to the business.

Over the last decade, since Pollen Street’s initial investment at Shawbrook’s founding in 2011, the Group has transformed from a specialist challenger lender into one of the UK’s leading digital banking platforms. With the continued backing of Pollen Street – and, from 2017, BC Partners – Shawbrook has grown its loan book from £1.4 billion in 2013 to £17.0 billion as of June 2025. Over this period, the Group delivered a compound annual growth rate of 30% in underlying profit before tax and a median adjusted return on tangible equity of 20%. The Group has evolved from its roots in specialist lending to build a diversified, technology-led business serving commercial and retail customers across the UK, underpinned by more than £260 million of investment in digital capabilities since 2017.

Supported by Pollen Street and BC Partners, Shawbrook has also completed numerous strategic transactions to accelerate its growth and expand its capabilities. Most recently, this includes the acquisition of ThinCats Group Limited – a leading specialist lender with a strong track record in providing bespoke funding to established, growth-focused SMEs. The ThinCats acquisition represents a strategic investment in accelerating the Group’s presence in the specialist SME lending market, underlining Shawbrook’s commitment to supporting UK SMEs with highly tailored finance facilities and relationship-led service.

Commenting on the IPO, Lindsey McMurray, Chief Executive Officer of Pollen Street Capital said: “Shawbrook’s journey over the past decade is a testament to the power of partnership and a clear strategy. From the outset, our shared ambition was to build a bank that could challenge convention and deliver distinct solutions for UK customers. We’re proud to have supported Marcelino and the leadership team as Shawbrook evolved from a specialist lender to a scaled, technology-led platform with deep expertise and strong returns. Today’s IPO opens an exciting new chapter, and we look forward to supporting Shawbrook’s next phase of growth.”

Marcelino Castrillo, CEO of Shawbrook Group added: “The transformation of Shawbrook over the past decade has only been possible because of the strong partnership we’ve enjoyed with Pollen Street and BC Partners. Their support and challenge have helped us to shape and accelerate our strategy as we’ve built Shawbrook into a leading digital banking platform. I’m grateful for their continued backing and look forward to continuing to work together as we take Shawbrook into its next chapter as a listed business.”