TLT advises on creation of practice funding powerhouse

UK national law firm TLT has advised specialist lender Performance Finance on its acquisition of Shire Professions Finance.

Performance Finance provides tailored funding solutions to legal, medical, wealth management and commercial practices and has delivered close to £1 billion in funding since it was established in 2005.

Shire Professions Finance has operated in the professional practice funding market since 2010, providing tailored finance to UK professional firms. Following the acquisition, Shire Professions Finance will continue to trade in its existing form from its Mobberley office, with its existing team remaining in place.

The acquisition brings together two established businesses in the UK specialist lending market and combines Performance Finance’s direct lending capabilities with Shire Professions Finance’s extensive broker panel, creating a hybrid funding model for professional practices across the UK.

TLT advised Performance Finance on all legal aspects of the acquisition. The team was led by Corporate M&A Partner Andrew Glaze, supported by Legal Director Leanne Fryer and Senior Associate Matthew Shephard.

Andrew Glaze, Partner at TLT, said: “This transaction is another example of the continued activity and evolution we are seeing across the UK specialist lending market, as businesses look to build scale, extend their capabilities and respond to customers’ changing financing needs. We look forward to supporting Performance Finance and Shire Professions Finance as they build on their combined strengths to unlock further opportunity and growth.”

“Collaborating with Performance Finance on this acquisition reflects TLT’s deep financial services expertise and our experience advising specialist lenders on strategic transactions that support their growth and evolving market propositions. It was a pleasure to work with Stuart and his team, and we wish all involved every success”

Stuart Burn, Managing Director of Performance Finance, said: "We are so excited to welcome the Shire Professions Finance team into the Performance Finance family. This partnership is all about teamwork and bringing together two passionate, client-focussed teams.

“TLT's deep financial services and transactional expertise combined with a commercial and responsive approach helped us navigate the transaction efficiently and with confidence.”‍

This deal is the latest example of TLT's extensive experience advising on corporate transactions in the Financial Services sector, following on from advising Funding 365 on its strategic acquisition by Balbec Capital earlier this year.

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