PROFESSIONAL services teams in York have advised on the sale of one of the city’s funding providers to Aldermore Group.
The retail banking group has acquired a 48 per cent stake in AFS Group Holdings Ltd (AFS), one of the UK’s leading independent funding providers, for an undisclosed sum.
AFS, which employs 19 people across two offices in York and Blackburn, is one of the largest introducers to asset and commercial finance funders in the UK.
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 AFS’ shareholders was provided by Tony Farmer, a partner with Garbutt + Elliott’s corporate finance team in York.
Nick Simpson, managing director of AFS said: “AFS has enjoyed a positive working relationship with Aldermore for a number of years and both businesses know each other well, so it makes absolute sense for us to strengthen our partnership through this agreement.
“We’re looking forward to working even more closely with the Aldermore team.”
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