UK invoice finance provider Bibby Financial
Services (Bibby FS) has acquired the client portfolio of Aston
Rothbury Factors – which went into administration last month after
the incumbent funder withdrew its funding lines.
The deal forms part of Bibby FS’ expansion
strategy in the UK. The invoice financier will take on the
management of Aston Rothbury’s 40 clients – primarily based in the
South East – through its Hastings office.
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Bibby FS UK CEO Edward Rimmer said: “We have
set a challenging growth objective over the next few years and the
acquisition of suitable businesses and/or client portfolios is
firmly part of that strategy. As a result, we are regularly
considering opportunities.”
Lionel Blackledge, partner at FRP Advisory LLP
– which has been appointed as administrators to Aston Rothbury –
added: “With a strong client book and a good reputation, we were
confident that a sale of Aston Rothbury Factors could be achieved.
The company’s clients can now be assured of continuity in their
funding and the support of one of the UK’s leading factors.”
Antonio Fabrizio
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