Private equity firm acquires majority share in leasing broker Haydock

Funds managed by private equity business Apollo Global Management have acquired a majority share in Blackburn-based asset finance broker and funder Haydock Finance.

Apollo is investing alongside Haydock’s founder and executive chairman Jon Wilkinson in the deal which is expected to complete in next year’s first quarter.

Established in 1980, Haydock is one of the largest independent finance companies in the UK, offering hire purchase and finance lease funding to business customers nationwide.

The existing management team, led by Wilkinson, Steve Worrall managing director, and Ian Barr, credit and risk director, will continue to run the business.

Backed by strong investment support from Apollo, the team says it has identified opportunities to grow market share and to develop the business offering into larger and more competitively priced markets.

Wilkinson said: “This is a tremendously exciting development for Haydock, a company that has been successfully built over a 37 year period from its base in Blackburn.

“Apollo is a leading global alternative investment manager and I believe working together with them offers huge potential for our existing and future introducers and business customers. Already a long established name in asset finance, Haydock has exciting plans to grow market share in the UK and to diversify our competitive offering.”

Haydock’s advisers on the transaction were EY (financial) and Squire Patton Boggs (legal).