1pm plc has agreed to acquire MH Holdings (UK) Limited and its trading subsidiary, Academy Leasing Limited. 1pm, the AIM listed UK finance provider, has agreed a deal worth up to £12 million in cash and shares.
The deal was structured and led by the corporate finance team of North West accountants and business advisors, Cowgill Holloway LLP. The team was led by corporate finance partner Ian Johnson.
Commenting on the deal, Johnson said: “1pm plc’s acquisition of Academy Leasing, substantially increases the size of the business and significantly expands both their customer base and portfolio of products and services. We have worked closely with the shareholders over the last two years and are delighted to have achieved this result.”
For Academy Leasing Limited, the acquisition offers the opportunity for the business to expand with greater access to funding and products for its customers. The synergies between the businesses enhances Academy Leasing’s excellent market position in the UK.
Mike Nolan, Managing Director of Academy Leasing said: “The acquisition by 1pm plc will help to bolster continued growth into the future. Academy Leasing will continue to trade under its own name and we are committed to further strengthening its brand as part of the enlarged group. It’s good news for the whole team.”
Legal advice to Academy Leasing was provided by Kieran Donovan and his team at Bermans
Disclaimer
The information was correct at time of publishing but may now be out of date.
