The acquisition of the Newport-based business follows a series of strategic initiatives by the invoice finance provider which included a management buyout, a rebrand and an investment in people and its client service network with centres being opened in Glasgow and the Midlands.

David Tilling, CEO at Advantedge (pictured above), said it was delighted to now be able to expand its national presence to include the South West and Wales.

“We are passionate about making a difference to our clients and providing certainty of funding, so they have the confidence to drive their plans forward.  

“We now have a client base of over 650 UK businesses [which] benefit from our fast, flexible and straightforward finance solutions as we focus on delivering the very best for our clients and giving them the edge they deserve.”

Advantedge has already funded over £2bn worth of invoices to UK SMEs and hopes to significantly increase that number as it continues to expand its operation.

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“We are now focused on ensuring it is business as usual for our clients and staff based at Newport and our valuable introducers who work with the business as we incorporate this important regional centre into our group,” added David.

“We are looking forward to working with our new clients to reassure them that they will continue to have certainty of funding to support their growth plans.”

Henry Howard Financial Group said that it would continue to grow with its asset finance, vendor finance and retail finance divisions.

“Following 23% year-on-year growth of our vendor and asset finance division, the board has decided to exit the invoice finance and factoring space in order to focus on our core vendor and asset finance business,” said Mark Catton, CEO at Henry Howard Group.

“This is an exciting time for Henry Howard Finance as we continue to invest in our teams and infrastructure while continuing to deliver the exceptional customer service that we are renowned for.”