Advantedge Commercial Finance, a portfolio company of Mobeus Equity Partners, has acquired Henry Howard Cashflow Finance. Financial terms weren’t announced. Henry Howard Cashflow Finance, of the U.K., provides funding and financing for businesses.
MOBEUS-BACKED ADVANTEDGE COMMERCIAL FINANCE ACQUIRES HENRY HOWARD CASHFLOW FINANCE
Advantedge Commercial Finance, a provider of invoice finance to UK based SMEs, has acquired Newport-based Henry Howard Cashflow Finance.
Since November 2016, when Mobeus provided £8.7 million to back its management buyout, Advantedge has increased its regional presence from two offices to five: in the Thames Valley, the Midlands, Glasgow, Manchester and now Newport.
Advantedge offers a full range of invoice finance facilities to British SMEs and has seen consistent growth, having already funded over £2 billion worth of invoices. Advantedge aims to increase that number significantly as it continues to expand. The business rebranded from Factor21 in January 2018.
Henry Howard was introduced to Mobeus by Rupert Rawcliffe, Partner at SRC Corporate Finance.
Jonathan Gregory, Mobeus Partner, says “We are delighted that Advantedge has acquired this established and strong business as it supports ambitious growth plans and enables the business to expand its national presence into the South West and Wales.”
David Tilling, Advantedge CEO, adds, “We are passionate about providing certainty of funding to our clients, so they have the confidence to drive their plans forward. We now have a client base of over 650 UK businesses serviced from our five client service centres – Glasgow, Manchester, The Midlands, Thames Valley and now Newport – 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.”