Finance broker MAF Finance Group has been acquired by national professional services consultancy Begbies Traynor in a deal worth up to £11.75m.
The deal will see MAF – previously known as Midlands Asset Finance – become part of the Begbies Traynor Group.
This will add a 46-strong team of finance experts spanning a wide range of industries, including fleet management and vehicle leasing as well as property and equipment; MAF works with a large panel of banks and alternative funders and has arranged finance in excess of £150m for clients during the last financial year alone.
Ric Traynor, executive chairman of Begbies Traynor Group Plc, commented: “MAF is a true specialist in providing growth capital for investment and has developed excellent relationships with both clients and financial institutions over many years.
“As companies seek to bounce back from the pandemic, access to finance will be critical and the MAF team will prove invaluable in increasing the scope of support and advice we can provide to businesses across the UK whether that is through restructuring to survive or investing to expand and thrive.”
MAF said the deal would support its nationwide growth, adding that the business would remain true to its Midlands roots and culture.
MAF’s Dave Chapman said: “We will continue to trade under the MAF brand as a ringfenced broker, looking after our growing customer base, but with the all the benefits of being part of a wider group, which brings additional services to our clients, as well as the added value of a national office network across the UK.”