PDT Solicitors advises on the sale of Regency Factors and Regency Trade Finance to Cubitt Trade Holdings LLC

Regency Factors was founded by Maurice Craft, an elder statesman of the finance sector and former Chair of ABFA (now UK Finance), together with his late wife, Hilary Craft OBE. Regency have been providing trade, invoice and asset finance to small and medium sized companies across the UK for over 30 years.

Cubitt is a UK based finance group providing working capital solutions to a large and diverse client base. Having recently acquired Pulse Factoring Solutions and the Calverton Group, the acquisition of the Regency companies is a further expansion to the Cubitt Group.

Regency and the management team were advised by corporate partners Noel Ruddy and Rebecca Glazebrook, assisted by Sian Webber (Corporate) and Elise Sherwell (Real Estate).

 

“Thank you to Noel, Rebecca, Sian and the PDT team for all their help and support in getting the deal over the line. Despite being a lawyer myself, corporate transactions are unfamiliar territory for me, and the PDT team guided me through the process efficiently and diligently. We appointed PDT because they are specialists in the ABL industry and had experience of similar transactions. The deal was not without its challenges, but the PDT team’s calm manner, experience and sound advice ensured the whole process ran smoothly.” Jonathan Craft, Regency Factors

PDT are one of the leading advisers to the ABL industry advising on all aspects of trade and asset finance. The team regularly provide commercial advice to ABLs on mergers, acquisitions and disposals as well as advising on specific legal and commercial risks affecting factors and discounters. PDT also advises on dispute resolution issues, debt recovery, fraud and insolvency.
 
Noel Ruddy, head of Corporate, said “This is the fifth ABL deal we have worked on in eighteen months which demonstrates just how attractive the market continues to be for investors. Congratulations to everyone at Regency for getting this deal done. Hilary would have been proud.”
 
Rebecca Glazebrook, who led the team at PDT, said “It was a pleasure to advise Regency Factors and the management team on the sale. The transaction required us to draw upon our knowledge of the ABL sector and also our corporate transactional experience to achieve a successful outcome. Being a family run business, the transaction meant a lot to the Regency management team both personally and professionally, so it was key that we facilitated a smooth and collaborative process. We wish Maurice, Jonathan, John and the Regency team every success for the future.”