Commercial finance provider Independent Growth Finance (IGF) has appointed a non-executive chairman.
John Allbrook will take over from Matt Cooper, who served as chairman for the past three years.
Since leaving GE Capital in 2004, Allbrook has worked with private equity and AIM-listed businesses in both the financial services and technology sectors. Subsequent positions include chief executive officer of GoIndustry, and executive chairman of Syscap where he facilitated the sale of the business to the Wesleyan Mutual Assurance Society.
Since then Allbrook has built a non-executive portfolio which has included both Borro Private Finance and Hitachi Capital Franchise Finance. Allbrook is currently non-executive chairman of Cellesce, a biotechnology start-up, and is a board mentor with business management consultant Critical Eye.
John Onslow, chief executive officer of IGF, said: “We are enjoying a strong phase of growth and are keen to maintain this trajectory. Our leadership team will benefit greatly from having access to Allbrook’s expertise. He has a wealth of knowledge and experience in the Private Equity space, a key growth area for IGF. His extensive experience makes him the perfect addition to our board.”
Allbrook added: “I am pleased to be working with IGF at this interesting period for the UK economy. IGF’s range of asset-based lending solutions have never been more relevant to businesses that want to grow in uncertain times.”
IGF has been funding the working capital of UK businesses since 1997. The company works with businesses with a turnover of £1m to £100m with finance provided, predominately on a secured basis against receivables, inventory, plant & machinery and property. Later this month IGF will share its end of year results.
Last month IGF has provided a £1m invoice discounting facility for Supply Plus, a British manufacturer and supplier of firefighting and safety equipment.
Operating out of Cambridgeshire, Supply Plus consists of three brands AS Fire & Safety, Bayley and Collins Youldon manufacturing a range of products for both UK and international use.