New support for the invoice financing specialist | News from national offers
A provider of invoice finance facilities with operations across the UK has secured new support.
Mobeus sold its stake in Advantedge Commercial Finance to the North American company eCapital Corp.
Formerly known as Factor 21, Advantedge has been backed by Mobeus since an MBO in November 2016. Since then, revenues have increased 2.4 times and EBITDA has doubled over the period.
With support from Mobeus, Advantedge secured a significantly increased wholesale and syndicated line of funding of £ 100million to support its ambitious growth plans; completed a rebranding; launched two new offices, in Scotland and the Midlands; and acquired Henry Howard Cashflow Finance, which gave it a new presence in Wales and the South West region.
Advantedge’s five offices now form the footprint of a national company poised for significant further growth.
eCapital is an alternative financing provider that provides small and medium-sized businesses with the working capital they need to grow. The company offers services such as factoring and asset lending. Its management team has extensive expertise in finance and verticals, while its digital platform enables clients to access capital from any device or location.
David Tilling, Managing Director of Advantedge, said: “This step allows us to continue our trajectory of rapid growth and the whole team here is very excited about what this means, not only for the company but also for the future. our clients.”
Guy Blackburn, Mobeus Portfolio Partner, added: “From Mobeus’ first meeting with Advantedge, we saw great potential in the team and their plans.
“This, combined with our understanding of the complexities of the SME lending industry, means that we saw a clear opportunity at Advantedge. Bringing together our experience with the dynamism, clear strategy and ambition of the team led to an excellent result for all involved.
“Together we have put in place ambitious growth plans and are confident that the company will continue to thrive as part of a larger international organization. “
Marius Silvasan, Managing Director of eCapital, added: “After studying opportunities in the UK for several years, we have recognized Advantedge as an excellent target acquisition platform for eCapital and we are delighted to have concluded this transaction.
He added: “This acquisition marks a new step in our company’s growth trajectory.
“Advantedge has extensive and extensive experience in the factoring industry, particularly serving small and medium businesses with alternative lending solutions. As such, they are complementary to our business model, and we look forward to joining their team and bringing our full line of products to their customers. “
Advantedge shareholders have been advised by Keefe Bruyette & Woods, PDT Solicitors and Trowers & Hamlins.
Anurag Verma, Managing Director of Keefe Bruyette & Woods, said: “We congratulate all parties involved and look forward to seeing the company continue its impressive growth under the ownership of eCapital.