Leicestershire finance firm funds £450,000 accountancy deal
Leicestershire-based alternative finance funder ThinCats has helped Penarth-headquartered accountancy and business advisory firm, Evans Entwistle, launch a £450,000 takeover of Bristol-based SBMC Business Management.
Evans Entwistle was introduced to ThinCats by Lime Corporate Finance.
Damian Evans, partner at Evans Entwistle said: “We have enjoyed strong organic growth as a practice. However, expansion has been on our mind for a while and when we were presented with the opportunity to acquire SBMC Business Management, we could immediately see the synergies in terms of the combined client base, the dynamics of our services and value propositions. Not only does SBMC have a profile broadly similar to our own, it is also based in a location with a strong, vibrant and flourishing business community.”
John Sharpe, business originator, South West & South Wales at ThinCats added: “This is a great deal for everyone concerned and yet is one that, once again, the traditional banks have struggled with. Both businesses are strong and profitable, with good combined historical and forecast EBITDA generation and we are delighted to support this acquisition with a flexibly tailored deal structure. In many ways, this transaction represents what ThinCats does best, working as a cohesive unit with the client and their advisers to achieve their strategic objectives with certainty.”