Investec acquires Amicus Commercial Finance

Investec acquires Amicus Commercial Finance

Amicus Commercial Finance has been rebranded as Investec Capital Solutions and will provide working capital financing to owner-managed UK SMEs.

The rebrand follows the acquisition of Amicus Commercial Finance last month by Investec Bank PLC.

John Wilde, founder of Amicus Commercial Finance (pictured above), will stay on to lead Investec Capital Solutions.

“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,” said John.

“Our high-tech, high-touch approach, delivered through our Intelligent Cashflow platform was awarded the Business Moneyfacts prize for Innovation in SME Finance in 2017 and, as part of Investec, we plan to continue to provide flexible working capital solutions to an increasing proportion of the SME business community.”

Investec Capital Solutions was established in 2015 and provided over £20m of cash flow finance last year.

The lender has been fully integrated into Investec Corporate Lending, with a seamless transition for all clients.

Investec Capital Solutions will form part of the bank’s corporate lending growth strategy and will also provide a strategically important product for private capital, while its use of technology will help to support the banking for business proposition.

“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,” said Mike Francis, head of corporate lending at Investec.

“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.”

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