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January 25, 2018updated 03 Sep 2020 5:39pm

Investec acquires Amicus Commercial Finance; rebrands as Investec Capital Solutions

Investec Bank acquired Amicus Commercial Finance from the Amicus Group in December and has rebranded it as Investec Capital Solutions, which will provide working capital financing to owner-managed UK SMEs.

By Brian Cantwell

Investec Bank acquired Amicus Commercial Finance from the Amicus Group in December and has rebranded it as Investec Capital Solutions, which will provide working capital financing to owner-managed UK SMEs.

The Amicus Group retains its property finance and asset finance businesses.

Amicus Commercial Finance was established in 2015 by John Wilde and David Hogg, who built SME Invoice Finance Limited (SMEIF) which was sold to Metro Bank in July 2013. It provided more than £20m of cash flow finance in 2017.

Newly rebranded Investec Capital Solutions has been integrated into Investec Corporate Lending, and will be tasked with forming part of the bank’s corporate lending growth strategy, said Investec, while also being used as an important product for private capital.

Mike Francis, head of corporate lending at Investec, said: “We’re constantly looking for ways to offer more services to our clients, and invoice finance is a great opportunity. We’ve seen strong demand for this kind of product, so we’re excited to add it to our offering with the smart use of proven technology: we’ll be helping owner-managed SMEs to unlock their cash flow and put that money to good use, rather than worrying about lengthy payment terms.”

“The experience and expertise of Amicus Commercial Finance’s management team was a key part of our decision to acquire the business and we’re pleased to say that they will remain in place to manage our commercial finance activity. We’re bringing in a first-class team with a great track record and a solid client base.”

John Wilde, who founded Amicus Commercial Finance and will stay on to lead Investec Capital Solutions, said: “Investec is an excellent fit for us: we’ve kept our focus on providing strong relationships and great service for our clients, underpinned by smart technology.”

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