Garbutt + Elliott Provide Corporate Finance Advice in AFS Group Deal with Aldermore Group

Aldermore Group PLC, the AIM Listed challenger bank, has agreed to acquire a 48% stake in AFS Group Holdings Ltd (AFS), one of the UK’s leading independent funding providers.  

Under the terms of the deal, AFS, which is headquartered in Blackburn and has an office in York, has agreed to sell 48% of its shares to Aldermore for a sum of up to £4,500,000.

Matthew Smith, a corporate partner in the York office of Andrew Jackson Solicitors LLP, together with colleagues Philip Ashworth and Fiona Philips, provided legal advice to the shareholders of AFS.  Financial advice to the AFS shareholders was provided by Tony Farmer, a partner with Garbutt + Elliott’s corporate finance team in York.

Matthew said: “We are delighted to have helped the shareholders of AFS conclude the deal.  AFS is a well established, UK market leader and the investment by Aldermore will help to take the business to the next level.”

Tony Farmer, corporate finance partner at Garbutt + Elliott, said:  “We are very happy to have provided corporate finance advice to AFS Group throughout this deal. We are confident the transaction will provide the conditions for AFS to continue its growth and fulfil its plans for the future.”

Nick Simpson, Managing Director of AFS said: “We’ve been looking to build upon our position as one of the leading independent funding providers in the UK and were therefore delighted when we were approached by Aldermore, which has an excellent reputation. The transaction means that our business can build upon its ambitions to grow and develop further.”

“We were delighted with the advice and assistance given by our advisers during the process and are very grateful for the assistance they provided in concluding matters.”