Lender ThinCats has provided funding to HFMC Wealth to support its ongoing acquisition strategy.
ThinCats worked with debt adviser finnCap Group to structure a senior debt facility. This refinancied an existiing NatWest facility and helped fund HFMC Wealth’s acquisition of Aspinalls Group.
Aspinalls adds assets under management (AuM) of over £130m to HFMC Wealth and takes its total to more than £1.4bn.
Previously, HFMC Wealth purchased Generic Financial Management in October 2018 and the firm wants to continue its acquisition strategy.
Jeremy Hoyland, CEO of HFMC Wealth, said: “Identifying and acquiring suitable financial planning firms is central to our growth strategy. The funding put in place allows us to pursue other potential acquisitions with like-minded wealth and financial planning firms. We were delighted to work with finnCap and ThinCats on the purchase of Aspinalls and look forward to working together on future acquisitions, providing the range of services to clients normally associated with a Private Bank.
Alistair Hay, partner and head of debt advisory at finnCap Group, added: “We are grateful for the opportunity to work with Jeremy and his team on financing this important acquisition. In ThinCats, the Group has a supportive, long-term financing partner who invested the time in understanding the business and tailored a debt structure accordingly. We look forward to working together with both parties in the future.”
Dave Sherrington, regional head of sales, and Stuart Thompson, director regional business development, ThinCats. continued: “It was a pleasure to work with Jeremy and Alistair in shaping the debt solution for this transaction. Wealth management is a long-term growth sector and HFMC’s clear strategy and experienced leadership mean they are well-positioned for further growth.”
HFMC Wealth was established in 1987 and is a chartered financial planner with offices in London and Weybridge.
ThinCats is an alternative lender to mid-sized SMEs.