Positive Cashflow Finance acquired by 1pm
David Smith, Managing Director at Positive Cashflow Finance
I am pleased to announce that we have today completed the sale of Positive Cashflow Finance Ltd (“PCF”) to 1pm plc, a specialist independent provider of finance facilities to the SME sector. AIM listed 1pm is well established and well respected within the asset finance industry and provides funding against both hard and soft assets as well as traditional business loans. The directors of PCF view 1pm as the ideal partner to help support the next phase of development.
The PCF brand will remain unchanged and we will continue to offer invoice finance facilities ranging from £10k to £1m to owner managed businesses. Being part of the 1pm group will however enable us to broaden our offering of asset based financial products to both new and existing clients. PCF have always been committed to providing a high level of service and flexibility to its clients and that ethos is very much shared by the new owners.
Ed Rimmer, who has worked in the commercial finance industry for over 20 years, has been appointed Managing Director of the new Commercial Finance Division of 1pm plc and will also sit on the main PLC board. We will form part of that division alongside the recently acquired, Oxfordshire based, Gener8 Finance Ltd. We are delighted to be working with Ed who has an excellent reputation in our industry.
On a personal note, my co-directors would like to join me in thanking you for your support over the last nine and a half years and are very much looking forward to continuing working with you and your clients in the future.