Venture Finance launches structured division

ABN Amro’s asset-based lending business is to extend its support for medium sized businesses with the launch of a structured finance team.

Venture Finance, the UK asset-based lender owned by ABN AMRO, has demonstrated its confidence in the mid-market with the launch of a dedicated structured finance division.

 

The 18-strong division, which will be headed by Paul Beveridge, will provide a range of services, including support for management buyins and buyouts, mergers and acquisitions, insolvency turnaround and re-financing.

 

Asset-based finance is funding secured against a company’s stock, machinery or future business prospects. According to Venture Finance, an increasing number of transactions are being funded through a combination of asset-based products: in 2001, asset-based finance was used to fund 44 per cent of all MBO activity, overtaking private equity, mezzanine and loan notes.

 

Venture Finance is not alone in expanding its asset-based finance business. NMB Heller, jointly owned by ING Group and Heller Finance, recently opened a London office to meet increasing demand for its brand of asset-based finance. Lloyds TSB Commercial Finance also set up a national team of transactional specialists, followed by the launch of an asset-based lending team dedicated to structuring larger deals.

 

Founded in 1989, Venture Finance provides funding solutions from start up to established businesses with a sales turnover of up to £100m. The firm’s core finance services are factoring and invoice discounting.