Absolute Invoice Finance has recently become a division of
Aldermore, the new commercial lender acquired by private equity
firm AnaCap last year.
Absolute, which provides factoring and invoice discounting
solutions to SME-sized businesses, was acquired by AnaCap in
September 2009.
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Absolute’s CEO Doug Crawford is to leave after the integration
of both businesses has been completed.
Ian Wilkins will assume the role of managing director for
invoice finance, with responsibility for the day-to-day running of
Absolute, and will report to Aldermore’s CEO Phillip Monks.
Monks commented: “This is an important step for Aldermore in its
strategic development and represents an exciting opportunity for
Absolute to realise its full potential through access to greater
funding.”
“Both Aldermore and Absolute have ambitious growth plans which
are better achieved by joining forces than by approaching our
shared market independently,” he added.
Antonio Fabrizio
