RSS
Market and Sector Type: 
Banking & Finance

Close Invoice Finance buys Ulster Factors

Article Date:  May 13 2009

London-based Close Invoice Finance (CIF), part of the FTSE 250 banking group Close Brothers, has acquired a business in Northern Ireland.

It has bought the factoring business of Belfast-based Ulster Factors for an undisclosed sum, two years after CIF opened its first office in the province.

David Thomson, chief executive of CIF, says, ‘This acquisition will allow us to support even greater numbers of cash-strapped SMEs and offer them a lifeline at a time when other forms of finance, notably bank lending, have dried up.’

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Hiscox Business Insurance 

Life’s full of uncertainties, but you never want to be in any doubt about your business insurance. Hiscox offers broad and inclusive business insurance available online. You can tailor a policy to suit your business needs from a broad range of covers. Find out more.

Secure early payment for your unpaid invoices with Simply Business

Simply Business works with a carefully selected panel of the UK's leading factoring and invoice discounting providers. Find out your cash flow options in minutes, you could have 90% of your invoices paid in 24 hours. To find out more click here

Selecting the right IT strategy in 2010

Owner managers and CEOs of fast-growing companies want IT-applications that accelerate competitive advantage and improve operational efficiency. This free whitepaper helps you plan and choose the right IT strategy for your business in 2010. Download ‘Selecting The Right Software Vendor’.

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: Mergers & Acquisitions

Hotbed backs Wheatley MBO

Wheatley Associates, a specialist software company, has undergone a management buy-out backed by private investor syndicate Hotbed.

NVM buys stake in Lanner as 3i exits

Mid-market investor NVM has bought a minority stake in software developer Lanner Group as the company's previous backer 3i exits the business.

Investors celebrate ApaTech sale

ApaTech, a specialist in bone repair technology, is to be sold for up to $330 million (£220 million) in a big win for its investors.

More Banking & Finance: Mergers & Acquisitions

Bridges Ventures exits Insurance Dialogue

Insurance Dialogue, a specialist in the over-50s market, has been acquired by underwriter Equity Insurance Group for an undisclosed sum.

M&A Awards highlights top dealmakers

The achievements of management teams and their advisers have been recognised at the M&A Awards at the Hilton Park Lane in London.

HgCapital sees ‘buyer’s market’ for private equity

The chairman of private equity firm HgCapital has talked of a 'buyer's market' for investors as the firm completes its current round of exits.

Commoditrade takes control of AMCO 

Investment group Commoditrade has bought a controlling interest in a commodities fund with more than £65 million under management.

Duke Street acquires Biomnis for €217 million

Duke Street, the European mid-market private equity firm, has acquired Biomnis, a France-based provider of medical diagnostics, for a total consideration of €217 million (£174 million).

Advertisement

Related articles

Hotbed backs Wheatley MBO

Wheatley Associates, a specialist software company, has undergone a management buy-out backed by private investor syndicate Hotbed.

Synseal Extrusions in MBO

Private equity house HIG Europe has acquired Synseal Extrusions, a supplier of doors, windows and conservatories.

Alchemy Partners sells COA Solutions

Private equity investor Alchemy Partners has sold software supplier COA Solutions to Advanced Computer Software for £100 million.

YFM backs Fishawack acquisition

Medical PR agency Fishawack Communications has made an acquisition in the US with backing from existing investor YFM.

Poll

What should Alistair Darling deliver in the Budget?




Have your vote on current issues

People who read this also read

  • Back to the future

    Now the recession is apparently over, global companies are back to thinking about the future again.

  • Get the right exit price

    It's more important than ever for those selling their business to think about the key points the buyer will find attractive.

  • Recovery on firmer footing

    Promising economic data has raised hopes that the UK's fragile recovery may be strengthening.

  • Friends Reunited man in Quidco MBI

    Michael Murphy, the former chief executive of social website Friends Reunited, has bought into e-commerce site Quidco.

  • SMEs scared to chase late payments

    Less than a quarter of small and medium-sized enterprises (SMEs) have ever taken legal action to recover outstanding debts, claims a survey.

White Papers

Better Roads

Serves the information needs of governments and construction contractors involved in Federal, State, County, City and Township highway, road and bridge construction, winter maintenance, roadside and vegetation management and other highway-related projects.

Defense Technology International

Is the one publication focusing on the critical role of defense technologies in programs, policies, programs and funding, providing readers with integrated intelligence and global perspective in Land, Sea, and Air.

FierceGovernmentIT

Is a free, three times a week email briefing for government employees and contractors on the latest government technology news.

More