Mobeus's Advantedge bolts on Henry Howard Cashflow Finance

Unquote understands Mobeus did not provide fresh capital to support the transaction.

The deal comes two years after the GP invested £8.7m in the management buyout of Advantedge (then known as Factor 21).

The company rebranded in January 2018 and has appointed a number of regional managers and directors under Mobeus's tenure. Including the latest bolt-on acquisition, it has increased its regional presence from two offices to five, with sites in the Thames Valley, the Midlands, Glasgow, Manchester and Newport.

The GP is invested in the company via its maiden institutional fund, Mobeus Equity Partners IV, which closed on £166m in August 2017, surpassing its initial £150m target.

Company
Newport-headquartered Henry Howard Cashflow Finance was the invoice finance division of credit provider Henry Howard. The vendor was founded in 1996.

People
Mobeus Equity Partners – Jonathan Gregory (partner).
Advantedge Commercial Finance – David Tilling (CEO).

Advisers
Vendor – SRC Corporate Finance, Rupert Rawcliffe (corporate finance).

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