Invoice discounting provider Positive Cashflow Finance said its directors have taken full ownership of the business after acquiring the remaining 20% stake.
The 20% was owned by private equity fund Infinity Asset Management, which bought a 55% stake in the company for £2m in 2007.
Directors of Positive include Managing Director David Smith, Finance Director Peter Davis, Commercial Director Simon Cook and Sales and Marketing Director Phil Chesham.
“Our investment in Positive Cashflow Finance was our very first deal and, even though it was a start-up, we knew we were backing a very experienced team,” said Daniel Finestein, Managing Partner of Infinity.
“We have enjoyed an excellent relationship with David and his fellow directors and we wish them well for the future.
“Our investment in Positive has yielded a strong return for Infinity and we are looking to replicate this success by supporting other companies which fit our criteria.”
David said it was always the directors’ ambition to own the company outright and the transaction marked the final stage of that journey.
“We are now looking to continue our growth with bigger transactions and the addition of asset-based lending deals.”
In 2013, Royal Bank of Scotland (RBS) Invoice Finance provided funding to Positive’s management team, and it has also funded the latest deal.
John Gribbon, Northern Regional Managing Director of RBS Invoice Finance, commented: “We are delighted and proud of our association with the team at Positive Cashflow Finance and we are excited about extending our support as they continue to build on their success as a leading independent in the factoring and discounting market.”
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