Advantedge Commercial Finance Ltd (Advantedge) have announced today that they have completed the acquisition of the Newport based, Henry Howard Cashflow Finance business.
The acquisition marks the completion of another exciting initiative for Advantedge. The addition of the Henry Howard Cashflow Finance business into Advantedge is an important milestone in their ambitious plans. A series of strategic initiatives last year, saw a successful MBO supported by Mobeus Equity Partners, a rebrand and an investment in people and client service network with centres being opened in Glasgow and The Midlands.
David Tilling, CEO of Advantedge said:
“We are delighted to have acquired Henry Howard’s clients and team as it supports our ambitious growth plans and enables us to expand our national presence to now include a South West and Wales region. We are passionate about making a difference to our clients and providing certainty of funding, so they have the confidence to drive their plans forward. We now have a client base of over 650 UK businesses who benefit from our fast, flexible and straightforward finance solutions as we focus on delivering the very best for our clients and giving them the edge they deserve.”
Advantedge are a fast-growing leading invoice financier who provides cashflow solutions to businesses to help them grow. They offer a full range of invoice finance facilities to small and medium sized businesses and have seen consistent growth having already funded over £2bn worth of invoices to British SMEs and hope to significantly increase that number as they continue to expand their operation. With a national presence delivered regionally through its offices in the Thames Valley, The Midlands, Manchester, Glasgow and now Newport, they remain committed to personal and local relationships delivered in the way clients want.
As David concluded:
“We are now focussed on ensuring it is business as usual for our clients and staff based at Newport and our valuable introducers who work with the business as we incorporate this important regional centre into our Group. We are looking forward to working with our new clients to reassure them that they will continue to have certainty of funding to support their growth plans.”
Mark Catton, CEO of the Henry Howard Group said:
“Following 23% year on year growth of our vendor and asset finance division, the board has decided to exit the invoice finance and factoring space in order to focus on our core vendor and asset finance business. We’re pleased to see our clients transferred to Advantedge, where we are confident they will continue to be well served by their dedicated team.”