Apollo buys Haydock Finance

The GP invested alongside the company's founder and executive chairperson Jon Wilkinson. The existing management team will continue to lead the business.

Under its new ownership structure, Haydock will expand its services into new segments within the UK market.

The deal is expected to complete in Q1 2018, subject to regulatory approval.

Company
Founded in 1980, Blackburn-headquartered Haydock is an asset finance provider. It provides facilities for new hire purchase, leasing and refinancing for assets such as industrial plants and machinery; commercial and industrial vehicles; audiovisual and broadcasting equipment; and renewable energy equipment.

According to publicly available records, the business generated a turnover of £16.1m in 2016 with an operating profit of £9.2m.

People
Haydock Finance – Jon Wilkinson (executive chairperson); Steve Worrall (managing director); Ian Barr (credit and risk director).

Advisers
Company – EY (corporate finance); Squire Patton Boggs (legal).

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• Topics
• Buyouts
• UK / Ireland
• Financials
• United Kingdom
• Apollo Management
• EY (Ernst & Young)
• Squire Patton Boggs