PDT Solicitors advises Amicus Finance plc
Published: 31 January 2018
PDT Solicitors advises Amicus Finance plc on the sale of Amicus Commercial Finance to Investec Bank plc
"PDT are ABL industry specialists and that expertise has been invaluable to us over the years. In addition, they have built a formidable corporate practice and this is another in a long line of successful deals we have worked on together. This was a complex deal which needed to be done quickly and efficiently. Noel’s industry expertise and Rosie’s calm efficiency were instrumental in the success of this transaction, and we will continue to use them for ABL and corporate support."
John Wilde, Managing Director, Investec Capital Solutions
PDT’s corporate team advises Amicus Finance plc and the managers of Amicus Commercial Finance, its specialist invoice finance and working capital finance solutions division, on its sale to Investec Bank plc. Amicus Commercial Finance has now been fully integrated into Investec Corporate Lending and recently rebranded to become Investec Capital Solutions.
Amicus Finance plc will continue to develop its other specialist financial services businesses concentrating on property finance and asset finance.
Founded by managing director, John Wilde, in 2015, Amicus Commercial Finance has grown rapidly and provided over £20M of cash flow finance last year, winning the Business MoneyFacts Innovation Award in the SME Finance Sector.
Investec Bank plc is an international specialist banking and asset management group. It employs just under 10,000 people worldwide and is the first company to have listed on both the London and Johannesburg stock exchanges. As a group Investec has £154bn of assets under management globally. Investec Capital Solutions will form part of Investec’s Corporate Lending growth strategy.
Noel Ruddy, who led the team at PDT, said “We have been working with John for over 17 years so it was a particular pleasure to be able to work with him again on this very important move for the business. We are delighted to have been involved in closing such an important deal and congratulate all the parties involved.”
Noel was assisted by Rosie Haines (Corporate), Emma van Klaveren (Real Estate) and Bhavna Patel (Employment). Investec Bank plc were represented by Addleshaw Goddard LLP.
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