THE LENDER once known as Cattles Invoice Finance has been rebranded for the second time in a year.
Last year the business was sold by the troubled sub-prime lender Cattles to AnaCap Financial Partners for £70m. A few months later it was rolled into another Anacap venture, London-based Aldermore Bank.
It was first rebranded as Absolute Invoice Finance but will now trade as Aldermore Invoice Finance
The new management say they have increased deal volumes by 35% and staff numbers have also climbed by 45 to 192 people across six offices. The Manchester office, which retains most of its head office functions, employs around 57.
Tony Smedley, regional managing director of Aldermore Invoice Finance in the Midlands, said: “Joining forces with Aldermore nine months ago enabled us to take huge strides forward as a business, not least because of the liquidity it provided. Having access to a deep pool of capital has meant that we have been able to better support the SME sector at a time when many high street banks are retreating from lending at the smaller end of the market.
“Rebranding as Aldermore Invoice Finance marks the final step in the integration process and brings the invoice finance division in line with the other areas of the wider Aldermore bank, which comprise commercial mortgages, asset finance, residential mortgages and savings.
“Our appetite to grow and do deals has never been so strong or well supported, and we are committed to providing the same level of support to the SME market. Being part of a specialist SME lender like Aldermore will enable us to achieve that ambition and implement our own growth plans at a rapid pace.”
Aldermore Invoice Finance’s client turnover is around £1.1bn. It offers factoring and invoice discounting, as well as support services, such as payroll.
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