Lewis completes £47m Inspired deal
FINANCIER Joe Lewis, the majority shareholder of Premier League football club Tottenham Hotspur, is to delist SME funder Inspired Capital after a £47.1m takeover deal.
Inspired, which despite being headquartered in Bristol has strong Manchester connections, was created when cash shell Renovo acquired lender Ultimate Finance.
Inspired Capital also owns Manchester-based Ashley Business Finance which employs 34 people at its premises in Mosley Street.
Bentley Park (UK), an investment vehicle controlled by the family interests of Joe Lewis, had been a shareholder in Inspired since late 2013, and made a bid for the business earlier this month.
As a result of investor support for the offer it now owns 93% of the shares and
Having passed the 75% threshold required to complete the takeover, Bentley has also announced its intention to de-list Inspired Capital from AIM.
A Manchester team from investment bank Altium led by chief executive Phil Adams, with support from director Paul Lines, assistant director Adam Sivner and analyst Tom Battersby, provided financial advice to Inspired Capital.
Adams said: “Bentley Park has held a stake in Inspired Capital since December 2013, and as a result, has developed a good knowledge of the firm. We believe it represents an ideal strategic partner for the business as it looks to continue its development.
“Having advised the management team of Inspired Capital throughout its life on the public markets, we are extremely pleased to have advised on a deal which offers a significant premium to shareholders and wish the Inspired team all the best for the future.”
