Risk management and business process outsourcing firm VLS provided due diligence to 1pm’s acquisition of MH Holdings (UK).
The acquisition of Academy Leasing’s holding company was announced on 28th July 2015. The deal, which is subject to shareholder approval, is due to close on 25th August 2015.
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VLS’s audit work – led by managing director Louise Ikonomides – covered a wide reaching analysis of Academy Leasing’s operating systems, business performance, internal processes and regulatory provisions.
Richard Adler, business development director at VLS said: "Routine, independent measurement of own-book leasing portfolios is vital for investors seeking reassurance that their investments are backed up by consistent own-book underwriting, effective risk management and operational adequacy. In addition to VLS’s Fitch rated BPO activities, we are seeing more and more Audit and Due Diligence opportunities, as the combination of wholesale funding to independent leasing companies, plus specialist M&A opportunities in the UK asset finance market continue their momentum."
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