Ultimate buys Time
Bentley Park – the parent company of specialist lender Ultimate Finance has agreed to a recommended cash acquisition of Time Finance PLC for approximately £55.13m.
Launched in Bath in 2006 Time Finance appointed Ed Rimmer to lead it in 2017 and following a brief hiccup when he departed and was then reappointed, Ed has overseen growth on several commercial finance fronts, not least invoice finance. Here, managing director, Phil Chesham has managed a change to all-asset finance where his approach received high praise for business introducing intermediaries.
Ultimate Finance was launched a few miles away in Bristol in 2002 by the late Richard Pepler along with Brian Sumner and is now part of the Tavistock Group under Josh Levy.