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.
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
