ultimate finance expands its offering through Ashley Commercial Finance

  • Anil Kanda
  • 05 Apr, 2011

Since ultimate’s acquisition of Ashley Commercial Finance in October 2010, the Group has significantly expanded its offering to clients. The integration of the business is now complete, and the Ashley team has moved in to be a part of ultimate’s new offices in Manchester. The acquisition creates a strong independent national force in the factoring and invoice discounting market, and the enlarged group is in an excellent position to provide invoice finance as a viable alternative to bank overdraft facilities.
Ashley’s complementary offering means that the Group is now able to offer invoice finance to a much broader range of clients, from the smaller end which is serviced by Ashley, to larger, more established SMEs, as ultimate has traditionally looked after. Ashley’s clients typically have a turnover of between £150,000 and £500,000, whilst ultimate looks after businesses above this level; the scope within the enlarged group is therefore broadened considerably.
Jonathan Cranston, Managing Director of Ashley, commented: “Our ethos matches that of ultimate very well; we are fast, responsive, and our emphasis is on the strength of our people. Being based in the same office as ultimate means that we can work very cohesively with them, and as our typical clients are of a smaller size, the two businesses can support each other and be even more accommodating.
“ultimate’s existing introducer base can now consider the group for a much broader range of situations, as Ashley’s services add another element to the business.”