Management team acquires corporate finance company Oldham

An Oldham-based corporate finance firm, which trades over £ 150million in loans a year, has been acquired by its management team.

PMD Business Finance, based in Gateway Crescent, Chadderton, was bought by three members of its management team – Tom Brown, Lee Schofield and Rob Dermody.

The deal allows its two shareholders and founders – Peter Dobson and Mike Rodgers – to take care of the day-to-day running of the company, although both retain minority stakes and continue to hold positions on the board. .

PMD is one of the UK’s largest independent business finance providers, facilitating business lending, asset finance, real estate and acquisition finance, invoice finance and corporate finance. suppliers. Throughout the Covid-19 pandemic, it has put in place over £ 65million in Coronavirus Business Interruption Loans (CBILS).

MHA Moore and Smalley’s corporate finance and transaction tax team advised the transaction, providing advice on valuation, taxation and structuring of the transaction.

Tom Brown, Managing Director of PMD, said: “This agreement marks a new chapter in our history which will solidify our position as one of the UK’s largest genuinely independents. PMD’s ethics center on training and developing talent and providing exceptional levels of customer service. I look forward to continuing these values ​​with our new management team.

Director Lee Schofield added, “As a team that understands the DNA of the company, Tom, Rob and I are delighted to have secured PMD’s long-term future. We will build on the foundations laid by Peter and Mike and have ambitious plans to grow the business and become the UK’s leading independent asset and business finance intermediary.

Founder Peter Dobson said: “This is an exciting development for our staff, clients and lending partners. We have always encouraged our employees to push their limits to reach their potential. Tom, Lee and Rob are proof of that and Mike and I are proud to pass the baton on to them. I have no doubts that they will take the company to new heights.

The transaction team at MHA Moore and Smalley was led by Chief Financial Officer Andrew Feeke and Deputy Chief Financial Officer Rob Holgate. Colin Abrahams provided tax advice.

Andrew Feeke, Head of Corporate Finance at MHA Moore and Smalley, commented: “Companies like PMD are essential to the health of our economy and our business community because they provide valuable financing advice to business owners. business and negotiate critical loans to support sustainable growth.

“It has been a pleasure to further enhance our relationship with PMD by helping Peter, Mike and the management team facilitate this transaction, which guarantees a bright future for PMD and the many businesses it supports. ”

Chris Ross and Nina Latham at Mills & Reeve provided legal advice to Peter Dobson and Mike Rodgers on the sale of the business. Ben Dredge of CG Professional advised the management team on their purchase.

Founded in 2010, PMD has 42 employees and focuses primarily on the SME sector, working directly with clients, through professional referrals and providers of business assets. With over 100 lines of finance, PMD provides solutions to clients looking for loans to grow, facilities to improve their cash flow, or those looking to acquire facilities, machinery and vehicles. In addition, they also help companies restructure their debt and provide financing to aid acquisitions, MBOs and commercial sales.

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