Jul 27 2010
Bibby Financial Services today announced that it has acquired the client portfolio of Aston Rothbury Factors, an independent factoring company based in Brentwood, Essex in the UK.

The deal, which was completed on 26th July 2010, forms a key part of Bibby Financial Services’ UK expansion strategy.

Aston Rothbury Factors has over 40 clients primarily based in the South East, and went into administration following the withdrawal of funding lines by the incumbent funder. Restructuring, recovery and insolvency specialists, FRP Advisory LLP, has been appointed as administrators. Bibby Financial Services, the UK’s largest independent invoice finance specialist, will take on the management of these clients through its Hastings office.

Edward Rimmer, UK chief executive Bibby Financial Services 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. Bibby Financial Services is delighted to be supporting an additional 40 firms offering a specialist funding facility and client-focused credit control.

“We welcome Aston Rothbury Factors’ clients into the Bibby family and hope that by providing them with our invoice finance expertise, we can help them take advantage of opportunities for growth and continued business success.”

Lionel Blackledge, partner at FRP Advisory, 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.”

About Bibby Financial Services

Bibby Financial Services is a market-leading specialist in the provision of a range of business cash flow solutions to small and medium sized enterprises.

As the UK's largest independent invoice finance provider Bibby Financial Services currently provides cash flow funding for nearly 3,500 businesses, handles annual client turnover of more than £3.2 billion and advances in the region of £290 million every year to help small and medium-sized firms grow and realise their potential.

Bibby Financial Services has a network of 11 local offices throughout the UK and has the flexibility and independence to make funding decisions quickly and efficiently, and aims to support the cash flow position and growth of its clients in both the UK and overseas - something Bibby Financial Services has been doing for almost 25 years.

For more information, visit www.bibbyfinancialservices.com