Acquisition makes BFS one of the biggest players in construction finance

Bibby Financial Services (BFS), part of the Liverpool-based Bibby Line Group, has acquired Aldermore’s Working Capital Finance division for an undisclosed sum.

The independent invoice finance provider says this will help it to continue to grow its support for UK SMEs.

The move will see Working Capital Finance clients and colleagues integrate into BFS operations over the coming weeks.

Derek Ryan, UK managing director of Bibby Financial Services, said: “Working Capital Finance is a strong business with fantastic people and quality clients so it represents a strong strategic fit for BFS.

“This is a key milestone in our BFS 4.0 strategy which will see us grow our support for SMEs organically and through acquisition.”

Tim Boag, managing director for Business Finance at Aldermore, said: “Key to this transaction was finding a buyer who wants to invest in the business over the long term and shared our values and commitment to our clients and colleagues alike.

“In BFS we’ve done this and we’re happy to have found a good home for this business.”

The transaction will see BFS become one of the largest specialist providers of construction finance in the market, as well as growing its wider portfolio.

Derek Ryan added: “BFS is in growth mode and this is a fantastic example of our commitment to supporting UK SMEs.”