It has been a busy first quarter for ThinCats with the strong momentum from 2022 continuing into 2023. During the quarter we were also delighted to be named the most used debt provider in Experian MarketIQ’s 2022 M&A report – the first time a non-bank lender has topped the tables.

We completed a number of significant deals for IFA businesses, supporting Cheetham Jackson transition to employee ownership and providing transitional capital to help MWA Financial accelerate their growth which you can read more about in this update. 

SMEs demonstrate resilience as insolvency rates expected to rise in 2023

Our latest analysis of more than 500,000 mid-sized UK SMEs forecasts a rise in business insolvencies during 2023 as the effects of pandemic support programmes dwindle and more recent economic challenges take precedent. 

However, we expect continued strong demand for funding in support of businesses seeking to grow organically or through acquisition.

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Recent ThinCats Funding

We are delighted to have provided funding to facilitate the management buy-out of Glasgow based Be-IT  group, a specialist IT/Technology recruitment agency in a deal advised by AAB . Established in 2013, Be-IT Group are leaders in IT and Change Management recruitment.

We have also provided funding to support Cheetham Jackson , an independent financial planning business, transition its ownership structure to an Employee Ownership Trust (EOT ). Founded in 2009 by Stuart Jackson , the business’s strong growth in recent years has been underpinned by high levels of service and sound financial advice. 

We are delighted to have provided MWA Financial  with significant growth capital, supporting their plans of building a national firm of independent financial advisors. The funding marks the start of “phase two” for the owner-managed MWA, that will see it complete on a number of live acquisitions designed to take adviser numbers to more than 30 and AUA above £1bn over the next 12 to 18 months.