Audit ID acquires Winterhill Receivables’ assets
Knutsford-based Audit ID, which provides invoice discounting and asset-based lending audits to banks and other lenders, has acquired the assets of Winterhill Receivables from administrators RSM Restructuring Advisory.
Audit ID was founded in 2012 by James Hulme and merged into asset valuation, disposal and recovery group Winterhill Largo in 2014, where it went on to become Winterhill Receivables. Hulme continued to head up the division until Winterhill Largo went into administration at the end of February this year.
The deal sees Audit ID retain four members of staff from the Winterhill Receivables business, including two senior auditors and surveyors, who will continue to work alongside Hulme. The company also retains its professional indemnity cover and position on the panel of several major banks.
James Hulme commented:
“The decision to merge with Winterhill Largo enabled our business to grow strongly and strategically, and to build an exceptionally experienced and talented team.
“In that time, we widened our reach to include work with more of the major banks on a range of increasingly complex deals.
“As we revert back to the original Audit ID business, we take with us that expertise and client base, putting us in an extremely strong position to continue our work without disruption.”