PMD Business Finance Acquires Yorkshire Firm Custom in Strategic Northern Growth Move
Greater Manchester-based business broker PMD Business Finance has taken a significant step in its expansion strategy by acquiring a majority stake in Yorkshire counterpart Custom Business Finance. This acquisition aims to bolster PMD's operations across the United Kingdom, particularly in Northern regions.
Details of the Acquisition and Company Backgrounds
Founded in 2010 and based in Oldham, PMD Business Finance has established itself as a key player in the financial sector, supporting thousands of businesses with over £1.5 billion in funding. The company employs a team of 65 professionals dedicated to facilitating commercial and asset finance solutions.
Custom Business Finance, headquartered in Rotherham, Yorkshire, will continue to operate under its existing brand following the acquisition. The management team, consisting of Martin Taylor, Chris Mangle, and Dave Catling, will remain in leadership roles. Since its inception a decade ago, Custom has advised on more than £250 million in lending advances across over 1,500 transactions, serving sectors such as transport, manufacturing, healthcare, and renewable energy.
Strategic Vision and Leadership Perspectives
Tom Brown, Managing Director of PMD Business Finance, expressed enthusiasm about the acquisition, stating, "This is a really exciting strategic step forward for PMD and it will help us progress towards our goal of being the UK's leading asset and commercial finance intermediary." He emphasized that the deal strengthens PMD's long-term market position, providing a platform for significant growth and value creation.
Brown added, "The model that we've developed together with the team at Custom serves as a blueprint for additional future partnerships as we continue to scale. Custom has built a strong, credible reputation with clients nationwide, but particularly in the Yorkshire, Midlands, Humberside, and Lincolnshire regions. The team brings a wealth of commercial finance experience and industry knowledge that perfectly complements our existing operations."
Martin Taylor, Director at Custom Business Finance, shared his perspective on the partnership, saying, "We're thrilled to be joining forces with PMD Business Finance. I worked with Tom earlier in our careers and the wider PMD board are known to us as well, so this has all felt very natural and the right strategic fit for Custom." He highlighted the alignment between the two businesses, noting shared values and a focus on developing strong lender relationships and long-term customer care.
Advisory Teams and Legal Support
The acquisition involved a team of legal and financial advisors to ensure a smooth transaction. PMD was advised on legal aspects by the team at CG Professional, led by Benjamin Dredge and Victoria Brown. Custom Business Finance was represented by Amy Cusworth from Oxley & Coward Solicitors LLP.
Additionally, Steven Crookes of Knowles Warwick Chartered Accountants, along with Steve Watson and Andrew Wood of Harris and Co Accountants, provided advisory support to Custom throughout the process.
This acquisition marks a pivotal moment for both companies, positioning PMD Business Finance for enhanced growth and reinforcing its commitment to expanding its footprint across the UK's financial landscape.
