We have advised Newport-based Henry Howard Cashflow Finance on its sale to leading invoice financier, Advantedge Commercial Finance Limited.
Henry Howard Cashflow Finance is a division of the Henry Howard Finance Group; one of the UK’s leading business finance providers for the SME marketplace.
The team, led by Corporate partner Tom Rush, included senior associate Adam Percival, solicitor Matthew Smith and trainee solicitor Jamie Gillespie (Corporate) and partner Philip Alton (Banking & Finance).
Mark Catton, CEO at Henry Howard Finance Group, said: “Following 23% year-on-year growth of our vendor and asset finance division, the board has decided to exit the invoice finance and factoring space in order to focus on our core vendor and asset finance business.
“This is an exciting time for Henry Howard Finance as we continue to invest in our teams and infrastructure while continuing to deliver the exceptional customer service that we are renowned for.”
Corporate partner, Tom Rush, said: “The sale of Henry Howard Cashflow Finance will enable the Henry Howard Finance Group to further invest in its other finance divisions. It’s also a natural move for Advantedge and is in line with its ambitious growth plans; the acquisition increases their client base to more than 650 businesses across the UK.
“We are pleased to have advised Henry Howard Finance through the sale of its Cashflow Finance division and wish both businesses every success for the future.”
Henry Howard Finance Group will continue to grow, with its Asset Finance, Vendor Finance and Retail Finance divisions already supporting over 30,000 businesses across the UK.