Cattles Invoice Finance relaunched with new name and £100m fund

CATTLES Invoice Finance has relaunched as Absolute Invoice Finance, armed with a £100m fund to support business growth.

Absolute has severed ties with its troubled Yorkshire-based parent plc, as the £65m sale to specialist private equity firm AnaCap was completed.

Absolute is offering businesses funding lines of between £25,000 and £2.5m, as it seeks to ease the pressures on growing firms still struggling to access funding.

Focused on providing cash flow solutions to small and medium enterprises, Absolute operates from a network of six fully operational regional centres across the UK.

Doug Crawford, chief executive of Absolute Invoice Finance, said: “Despite recent reports suggesting an upturn in the economy, entrepreneurs are still having to battle to secure funding to grow their businesses.

“For start-ups, early stage businesses and even those with long and successful trading histories, that has created ongoing difficulties in maintaining healthy cash flow, let alone planning for future growth.

“With the support of AnaCap, an exceptionally strong balance sheet and a substantial new funding line from Lloyds TSB Commercial Finance, we are now an extremely well capitalised business.

“That, together with significant headroom in our working capital position, means we are heading into the market confident and with a fierce appetite to do deals.

“We are committed to providing the same positive and bright future to the UK’s dynamic small and medium enterprise sector.”

David Jones, the Yorkshire-based regional managing director of Absolute Invoice Finance, added: “Absolute Invoice Finance is our new name but it is built on the best bits of Cattles Invoice Finance – our people, culture, service delivery, the flexible way we do business and our desire to work with clients.

“Our existing approach to offering flexible and local decision making will continue to ensure we maintain our high standard of service to both you and your clients.

Being backed by a parent who is keen to invest in and significantly grow the business means we now have access to significant additional funding making our appetite for deals stronger than ever.

This is a hugely exciting time for us at Absolute as we become one of the most secure independent invoice finance companies in the marketplace. We’ve got big plans for the future.”