Ed Rimmer appointed to 1pm plc Commercial Finance Division and Gener8
Further to announcements on 18 May 2017 and 7 June 2017, 1pm plc is pleased to announce that, the acquisition of Tracx Finance Limited has now completed. Tracx Finance Limited is the holding company and 100% shareholder of its trading subsidiary Gener8 Finance Limited. The board is pleased to welcome the Gener8 team to the group and is excited by the prospects of the group’s newly established commercial finance division.
Following the completion of the Acquisition, Edward Rimmer is today appointed to the board of the company as the managing director of the commercial finance division and CEO of Gener8 Finance Limited. Ed brings over 20 years’ experience in commercial finance, most recently acting as UK CEO of Bibby Financial Services Limited.
Business Money group editor, Robert Lefroy commented:
“Ed Rimmer joins a distinguished group of invoice finance veterans bringing a new proposition to the market. In Ed’s case an existing and successful invoice finance business allied to one with a hard asset finance capability. This is a common theme today as invoice finance providers evolve their capability to meet the challenge posed by FinTech and the growth of reverse factoring and finance packages linked to business accounting systems.”