Financial firm PMD expands with new division as M&A market remains ‘dynamic’

A North West financial firm said it would create a new division as the M&A market remained “buoyant”.

PMD Business Finance, based in Greater Manchester, is launching a structured finance solutions arm.

The expansion comes after the Oldham firm said SME owners were increasingly looking to leave their businesses for new opportunities in the wake of the pandemic.

The company said its new finance division will provide a “viable alternative” to high street lenders and fill a gap in the market for a multi-faceted intermediary to provide structured finance solutions to businesses.

Over the past six months, PMD Business Finance says it has built a team of experienced industry specialists and a “broad and diverse” financing panel, leading to the launch of its new Structured Finance Solutions arm.

PMD will finance corporate or restructuring transactions, including acquisitions, management buyouts and employee share ownership trusts, as well as financial support for business owners.

The fast-growing company has already funded a number of deals in recent months, including the acquisition of London Tower Services from Aspire Platforms, a UK platform rental expert.

Director Tom Brown said the coronavirus pandemic halted the division’s initial launch earlier in the year, but the team had worked hard to support SMBs through the peak of the pandemic.

He said: “Now is the right time for us to formalize the way we already operate in this space and show our partners and SMEs in the North that we are ready to provide the most comprehensive financing solutions and most suitable available on the market – whatever their specific needs.

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“We have completed several transactions since the pandemic, including acquisitions, share purchases and MBOs, and with the recent extension of the CBILS deadline to November 30, there is now a real opportunity for businesses to get the most out of the program.”

He continued, “Many business owners are fed up, and the current climate will undoubtedly produce more business finance transactions due to the economic impact of COVID-19.

“Trade has been questioned; In a few weeks, a new budget will be announced, and it looks like SMEs and their owners will be the target of various tax hikes as the government tries to recover the huge deficit from COVID-19.

“One of them appears to be a substantial increase in capital gains tax, which will hit business owners hard when selling their business.

“UK banks are still reeling from the Bounce Back and CBILS tsunami and are struggling to support customers who are acquisition-seeking or looking to exit their businesses through an internal or commercial sale.

“With their resource of experienced personnel steadily dwindling, there must be viable alternative options.”

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