BREAL Group acquires Audit ID
BREAL Group, the multi-disciplinary equity and advisory services group, has acquired Audit ID, the leading independent provider of audit and pre-lending surveys to the asset-based lending and invoice discounting industry. The move signals a strategic impetus to create a market-leading, tech-driven ‘end-to-end’ advisory services provider for lenders.
Audit ID joins BREAL CM within the advisory services division of BREAL Group. BREAL CM offers independent, rapid and effective credit management and debt recovery solutions for corporates, advisors, restructuring companies, banks, and private equity houses. Built from the ground up, the company uses leading-edge real-time data analysis to enable its clients to both ‘nowcast’ and ‘forecast’ with extreme accuracy.
Similarly, Audit ID utilises its Audit ID Datashare technology (powered by Validis) which along with the soon to be released AuditABL software will provide a groundbreaking enhancement to invoice finance and asset based lending pre-lend surveys, cycle audits and overall risk management. Not only will this provide a more efficient and detailed reports but the technologies can also be deployed for ongoing monitoring resulting in event based audits rather than being reliant on time based audits. Combining the national based team of highly experienced auditors and surveyors with the new technology will create a truly market leading service.
Together, both companies offer lenders a pre, during and post-lend technology-driven advisory services offering that delivers market-leading excellence through specialism and focus.
Audit ID was founded in 2012 by James Hulme, who has built the company over the past 12 years to become a leading independent outsourced risk management services provider for UK, European, and North American finance institutions.
Both companies will be managed by a common independent Board within the Group, consisting of James Hulme as CEO, Mick Welden as CFO, and Tracy Turner as COO.
James Hulme, the new CEO of both BREAL CM and Audit ID, commented: “This is an immensely exciting opportunity for both companies and the Group to break new ground in providing truly technology driven end-to-end advisory services for lenders. Both the technology and market synergies enjoyed by Audit ID and BREAL CM will mean that our clients will be assured that business as usual can be accompanied by business transformation in how they approach the entire lending cycle. This can offer a whole economic cycle revolution for lenders, enhancing available margins and delivering unparalleled risk management.”
Mick Welden, the new joint CFO of both BREAL CM and Audit ID, commented: “BREAL is a family business at its core, and we have enjoyed a close and supportive working relationship with James that spans our careers. It is immensely important to us to have James and Audit ID on board. James’ drive and expertise, together with the BREAL family support, will mean that we will leave no stone unturned over the forthcoming years to build the lending industry’s ‘go to’ independent ‘end-to-end’ advisory services provider”.
