PMD Business Finance acquires Yorkshire business as it bids to continue Northern growth

Oldham firm takes majority stake in Yorkshire counterpart Custom Business Finance

Greater Manchester business broker PMD Business Finance has acquired a majority stake in Yorkshire counterpart Custom Business Finance as it bids to grow its operations across the UK.

Oldham’s PMD was founded in 2010 and says it has supported thousands of businesses with more than £1.5bn in funding. It has a team of 65.

Asset and commercial finance specialist Custom, based in Rotherham, will continue under its existing brand and will be led by its management team of Martin Taylor, Chris Mangle and Dave Catling. The business was founded a decade ago and has advised on over £250m in lending advances across more than 1,500 transactions in sectors including transport, manufacturing, healthcare and renewables.

Tom Brown, managing director of PMD Business Finance, said: “This is a really exciting strategic step forward for PMD and it will help us progress towards our goal of being the UK’s leading asset and commercial finance intermediary.

“It’s an acquisition that strengthens our long-term position in the market, providing a platform for significant growth and value-creation for everyone involved. The model that we’ve developed together with the team at Custom serves as a blueprint for additional future partnerships as we continue to scale.

“Custom has built a strong, credible reputation with clients nationwide, but particularly in the Yorkshire, Midlands, Humberside and Lincolnshire regions. The team brings a wealth of commercial finance experience and industry knowledge that perfectly complements our existing operations.”

Martin Taylor, director at Custom Business Finance, said: “We’re thrilled to be joining forces with PMD Business Finance. I worked with Tom earlier in our careers and the wider PMD board are known to us as well, so this has all felt very natural and the right strategic fit for Custom.

“There is real alignment between the two business as we both share the same values and business ethos, particularly in developing strong lender relationships and doing the right thing for customers for the long-term.”

PMD was advised on the legal aspects of the deal by the team at CG Professional led by Benjamin Dredge and Victoria Brown. Custom was represented by Amy Cusworth from Oxley & Coward Solicitors LLP.

Steven Crookes of Knowles Warwick Chartered Accountants, and Steve Watson and Andrew Wood of Harris and Co Accountants, also provided advice to Custom.