MHA Moore and Smalley supports MBO at business finance specialist

By MHA Moore and Smalley

04 Mar 2021

l-r-tom-brown-lee-schofield-rob-dermody-small.jpg

PMD Business Finance, which brokers over £150m in lending per year, has been bought by three members of its executive team – Tom Brown, Lee Schofield, and Rob Dermody.

The deal allows its two shareholders and founders - Peter Dobson and Mike Rodgers – to hand over day-to-day running of the firm, though both will retain a minority stake and continue to hold board positions.

PMD, based in Oldham, is one the UK’s largest independent business finance providers, facilitating business loans, asset finance, property and acquisition finance, invoice finance and supplier finance. Throughout the COVID-19 pandemic it has arranged over £65m of CBILS facilities.

The corporate finance and transaction tax team at Lancashire-based MHA Moore and Smalley advised on the deal, providing valuation, taxation and deal structuring advice.

Tom Brown, director of PMD, said: “This deal marks a new chapter in our history that will cement our position as one of the UK’s largest true independents. The PMD ethos is centred around nurturing and developing talent and providing exceptional levels of customer service. I’m looking forward to continuing these values with our new management team.”

Fellow director Lee Schofield added: “As a team that understands the DNA of the business, Tom, Rob and I are delighted to have secured PMD’s long term future. We’ll build on the foundations laid by Peter and Mike and have ambitious plans to grow the business and become the UK’s leading independent asset and commercial finance intermediary.”

Founder Peter Dobson said: “This is an exciting development for our people, customers and lending partners. We’ve always encouraged our people to push their boundaries to reach their potential. Tom, Lee and Rob are a testament to that and Mike and I are proud to be passing the baton over to them. I’m confident they will take the business to new heights.”

The deal team at MHA Moore and Smalley was led by head of corporate finance Andrew Feeke and corporate finance assistant manager Rob Holgate. Colin Abrahams provided tax advice.

Andrew Feeke, head of corporate finance at MHA Moore and Smalley, commented: “Businesses like PMD are essential to the health of our economy and business community because they provide valued funding advice to business owners and broker vital lending to support sustainable growth.

“It’s been a pleasure to enhance our relationship with PMD further by assisting Peter, Mike and the management team to facilitate this deal, which ensures a bright future for PMD and the many businesses it supports."

Chris Ross and Nina Latham at Mills & Reeve provided legal advice to Peter Dobson and Mike Rodgers on the sale of the business. Ben Dredge at CG Professional advised the management team on their purchase.

Founded in 2010, PMD has 42 staff and is predominantly focused on the SME sector, working directly with clients, through professional referrals and suppliers of business assets. With over 100 funding lines, PMD provides solutions for clients looking for loans to expand, facilities to improve cash flow, or those looking to acquire plant, machinery and vehicles. In addition, they also assist businesses in restructuring their debt along with providing finance to assist acquisitions, MBOs and trade sales.

{mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman",serif;}

Latest news

1

Councils back Combined County Authority proposals Lancashire Devolution

Councils back Combined County Authority proposals

18 Mar 2024

2

Red Rose Awards honours best of Lancashire business Red Rose Awards Winners 2024

Red Rose Awards honours best of Lancashire business

15 Mar 2024

3

RfM Transform helps business park achieve carbon negative status HR Trends from RfM Transform (9).png.png

RfM Transform helps business park achieve carbon negative status

19 Mar 2024

4

Derelict Darwen site transformed into fully-occupied business park Mill Bank Business Park

Derelict Darwen site transformed into fully-occupied business park

18 Mar 2024

5

Ways to increase flexibility in the workplace Flexible Working LBV.jpg.jpg

Ways to increase flexibility in the workplace

18 Mar 2024

Background image for hub sign up block

LBV Hub

Reach 50,000 members of the Lancashire business community

Post your news
Post your events
Post your offers
Company profile
Social reach
Magazine coverage
Sign-up
Events
LBV115 Magazine Launch Event
DSC9389
Networking
20 Mar 2024

LBV115 Magazine Launch Event

Delta Hotels by Preston Marriott, Garstang Road, Broughton, PR3 5JB

16:00 - 18:00

Business Networking in Blackburn - BNI Vista
EVENT LISTING SIZING Vista.png.png
LBV Hub Networking
19 Mar 2024

Business Networking in Blackburn - BNI Vista

Hampton by Hilton, 2 Frontier Ave, Blackburn, BB1 3AL

06:45 - 08:30

Business Networking in Chorley - BNI Endeavour
EVENT LISTING SIZING Endeavour.png.png
LBV Hub Networking
19 Mar 2024

Business Networking in Chorley - BNI Endeavour

Oak Royal, Bury Lane, Chorley, PR6 8SW

06:30 - 08:30

Business Networking in Lancaster - Eden Business Network
EVENT LISTING Eden Business Network.png.png
LBV Hub Networking
20 Mar 2024

Business Networking in Lancaster - Eden Business Network

The Borough, 3 Dalton Square, Lancaster, LA1 1PP

18:30 - 20:30

North West Apprenticeship & Careers Expo 2024
APP EXPO 23 IMAGE.jpg.jpg
LBV Hub Exhibitions
20 Mar 2024

North West Apprenticeship & Careers Expo 2024

Sir Tom Finney Sports Centre, Preston, PR1 2HE

12:00 - 19:00

Business Networking in Preston - BNI Diamond
EVENT LISTING BNI Diamond.png.png
LBV Hub Networking
20 Mar 2024

Business Networking in Preston - BNI Diamond

The Marriot Hotel, Garstang Road, Broughton, PR3 5JB

07:15 - 09:00

Business Networking in Accrington - BNI Zeus
EVENT LISTING SIZING Zeus.png.png
LBV Hub Networking
20 Mar 2024

Business Networking in Accrington - BNI Zeus

The Mill House, Corn Mill Yard, Accrington, BB5 5HX

06:45 - 08:30

Creative Lancashire PowWow networking
Creative Lancashire icon.jpg.jpg
LBV Hub Networking
21 Mar 2024

Creative Lancashire PowWow networking

Society1 Coworking Space, Preston, PR1 3LT

17:30 - 19:30

Business Networking in Lancaster - BNI Castle
EVENT LISTING BNI Castle.png.png
LBV Hub Networking
21 Mar 2024

Business Networking in Lancaster - BNI Castle

Vale of Lune RUFC, Powder House Lane, Lancaster, LA1 2TT

06:45 - 08:30

Business Networking in Burnley - BNI Kudos
EVENT LISTING BNI Kudos.png.png
LBV Hub Networking
21 Mar 2024

Business Networking in Burnley - BNI Kudos

Prairie Sports Village, Windemere Avenue, Burnley, BB10 2FU

06:45 - 08:30

The Allo Allo Comedy Dining Experience
Allo-Allo-Comedy-Dinner-Crow-Wood-Burnley.jpg.jpg
LBV Hub Social
21 Mar 2024 - 21 Mar 2024

The Allo Allo Comedy Dining Experience

Crow Wood Hotel & Spa, Burnley, BB12 0RT

18:45 - 23:00

Business Networking in Preston - BNI Brunch
EVENT LISTING SIZING Brunch .png.png
LBV Hub Networking
22 Mar 2024

Business Networking in Preston - BNI Brunch

Samlesbury Preston Hotel, Preston New Road, Preston, PR5 0UL

09:30 - 11:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more Lbv115 Online Graphic
Subscribe now

Weekly news bulletin