Lexington advises upon sale of iLoans to 1pm plc
Mar 14, 2017
Lexington is pleased to announce that it has acted as Lead Corporate Finance Advisor to Cardiff based specialist broker, Intelligent Financing Limited (“Intelligent Financing”).
Lexington led the entire sale process and successfully identified 1pm plc, the AIM listed provider of finance facilities for SMEs, as a strategic purchaser for the business and negotiated the transaction which will deliver up to £2m in proceeds for the shareholders. Intelligent Financing, which trades as Intelligent Loans, is owned by Directors Alun Winter and Robert Coles, who founded the business in 2010.
The FCA regulated brokerage firm is an award-winning specialist lending packager focussed on mortgages, secured loans, bridging finance and commercial lending. Lexington worked with Alun and Rob over a period of six months in advance of launching the disposal process to prepare the business for sale ensuring that the due diligence process and the transaction itself proceeded smoothly to completion.
Based in the centre of Cardiff, Intelligent Financing earns commission income from a wide panel of lenders and a growing network of approximately 1,200 introducers from whom a significant level of repeat business is generated. The business is growing and profitable and for the financial year to 31 January 2017, it completed over 250 commission-earning transactions, recording £1.5m of commission income and an EBITDA of £0.4m.