UK professional services consultancy, Begbies Traynor Group has acquired finance broker, MAF Finance Group, in a deal worth up to £11.75m.
Under the deal, the nationwide firm of finance brokers, which is headquartered in South Normanton, Derbyshire, will become part of the Begbies Traynor Group, bringing a highly experienced 46-strong team of finance experts, as well as comprehensive industry expertise spanning construction, engineering, manufacturing, healthcare, agriculture and renewables, fleet management and vehicle leasing.
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Working with a large panel of banks and alternative funders, MAF supports clients in accessing finance by arranging facilities for investment in new asset purchases, including equipment, vehicles and property, together with both refinancing and restructuring existing facilities.
MAF Finance Group, previously known as Midlands Asset Finance, has arranged finance in excess of £150m for clients during the last financial year and has invested in recruitment and broadened its product and sector expertise.
Pictured: Sue Chapman, Dave Chapman & Ric Traynor
On joining Begbies Traynor Group, Dave Chapman, director of sales and property at MAF, said: “This is an important step in our nationwide growth, while staying true to the Midlands roots and culture that made us what we are today.
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By GlobalData“We will continue to trade under the MAF brand as a ringfenced broker, looking after our growing customer base, but with all the benefits of being part of a wider group, which brings additional services to our clients, as well as the added value of a national office network across the UK.”
Sue Chapman, managing director at MAF, added: “Since we founded MAF in 2009, our guiding principles have been about creating a fulfilling environment in which our talented team can thrive and provide the very best level of service to our clients.
“We instantly recognised the same approach with Begbies Traynor Group and a number of synergies between our respective service offerings and are excited about how this will support the next stage of our growth. Being part of a larger group will also present our staff with exciting opportunities to further enhance their careers.”
Ric Traynor, executive chairman of Begbies Traynor Group plc, said: “MAF is a true specialist in providing growth capital for investment and has developed excellent relationships with both clients and financial institutions over many years.
“As companies seek to bounce back from the pandemic, access to finance will be critical and the MAF team will prove invaluable in increasing the scope of support and advice we can provide to businesses across the UK whether that is through restructuring to survive or investing to expand and thrive.”
Begbies Traynor Group plc is an AIM-listed professional services consultancy serving businesses, financial institutions and professional advisers in the areas of corporate recovery, restructuring and turnaround, corporate finance, forensic accounting, investigations and security risk.
