Derbyshire finance broker sold in £11.75m deal
South Normaton-based brokerage firm MAF Finance Group has been sold to professional services firm Begbies Traynor in a deal worth up to £11.75m.
MAF’s 46 employees will all join Begbies Traynor upon completetion of the deal. The firm provides access to finance through arranging facilities and works in the construction, engineering and manufacturing, haulage, healthcare, agriculture, renewables, property finance, fleet management and vehicle leasing sectors.
In its financial year ended 31 December 2020, MAF reported revenue of £3.1m and pre-tax profits of £300,000.
Ric Traynor, executive chairman of Begbies Traynor, said: “The acquisition of MAF is in line with our growth strategy and complements our existing, and expands the range of, our service lines.
“MAF specialises in providing growth capital for investment and has developed excellent relationships with both clients and financial institutions over many years. As companies seek to bounce back from the pandemic, access to finance will be critical and going forward the MAF team will prove invaluable in increasing the support and advice we can provide to UK businesses.”
Dave Chapman, director of sales and property at MAF said: “This is an important step in our nationwide growth, while staying true to the Midlands roots and culture that made us what we are today. We will continue to trade under the MAF brand as a ringfenced broker, looking after our growing customer base, but with the all the benefits of being part of a wider group, which brings additional services to our clients, as well as the added value of a national office network across the UK.”
Sue Chapman, managing director at MAF, added: “Since we founded MAF in 2009, our guiding principles have been about creating a fulfilling environment in which our talented team can thrive and provide the very best level of service to our clients. We instantly recognised the same approach with Begbies Traynor Group and a number of synergies between our respective service offerings and are excited about how this will support the next stage of our growth. Being part of a larger group will also present our staff with exciting opportunities to further enhance their careers.”