Factor 21

A UK provider of invoice finance facilities for SMEs

www.factor21.co.uk

Mobeus provided £9 million to back the management buyout of Factor 21, a UK provider of invoice finance facilities for SMEs.

THE BUSINESS

Factor 21 is an Oxfordshire and Manchester based provider of invoice factoring services to UK based SMEs. Since its establishment more than 15 years ago, Factor 21 has funded over £2bn of invoices for its clients. Today the firm provides flexible finance and accounts receivable solutions to more than 400 SME clients with annual sales typically
between £0.5 million and £6 million.

THE DEAL

Mobeus provided a combined debt and equity package to fund the MBO from the retiring vendor, taking a significant minority position alongside the management team, which rolled over substantial value.

THE PLAN

Mobeus is backing the Factor 21 management team to grow from its two existing regional offices. Mobeus sees an attractive opportunity to capitalise on strong demand from SMEs for finance and service from alternative lenders, and anticipates supporting the investment with further funding to build towards a nationwide footprint.

THE PEOPLE

Jonathan Gregory and Chris Price led the deal for Mobeus. Jonathan Gregory has joined the board.

Information

Chris Price
Sector:
Business Services
Type:
Management Buyout
Status:
Current
Date:
November 2016
Value:
£9.0 million
Leader:
Chris Price