Expansion and New Leadership in the Finance Sector
Trusted Business Partner, a well-established commercial finance broker, has recently acquired MGF Asset Finance in an undisclosed deal. This acquisition is expected to result in the creation of new job opportunities, marking a significant step forward for both companies. MGF Asset Finance, based in Yarm, has experienced substantial growth since its inception in 2018. The company has now appointed Maxine Fox as operations director and Nicolle Kane as assistant relationship manager. Both professionals bring extensive experience from the banking sector, with nearly 15 years of combined expertise.
James Clinghan, managing director of Trusted Business Partner, expressed his enthusiasm about the development. He stated, “This has undoubtedly been a transformational year for the business, but ultimately, the most important thing for us during this growth is maintaining our commitment to our core values. Everything we do is built upon integrity, transparency and our determination to see our clients succeed, and we’ve made key hires in line with this to ensure we welcome our new business partners, and offer them the highest level of service.”
Growth in the Travel Industry
In a separate development, Hays Travel has reported increased profits as more holidaymakers choose to travel further and more frequently. This trend reflects a growing demand for travel services, particularly among those seeking unique and extended destinations.
Fletchers Group has also made a strategic move by entering the family law sector through a deal with Raydens. This expansion highlights the group’s commitment to diversifying its services and meeting the evolving needs of its clients.
Transition at MGF Asset Finance
Mark Forbes, director of MGF Asset Finance, shared his thoughts on the transition. He said, “After building a database of growing businesses across the region and beyond, it was crucial for me in retirement to hand over the reins to a reputable company that both my clients and I could trust completely. I have known James for nearly 20 years and Trusted Business Partner lives up to its name; when they commit to something, they deliver. That reliability was exactly what I needed to feel confident about this transition. I wish them the very best of luck and look forward to seeing the team continue to grow and scale.”
Strategic Acquisition by S&W
Meanwhile, professional services group S&W has agreed to acquire Northumberland-based advisory firm Peppercorn Tax. This firm offers tax consultancy and accounting services to individuals, businesses, and trusts. The deal follows S&W's recent growth in the North East, which includes the acquisitions of three Haines Watts offices and Leathers LLP in 2023.
Eight members of the Peppercorn team, including directors Emma Glover and Kelly Morgan, will join S&W as part of the transaction. Andrew Wilkes, CEO of S&W, commented, “The acquisition of Peppercorn Tax is a significant step in our strategy to continue growing in key regional markets. With strong support from Apax Funds we’re investing in specialist expertise that strengthens our business and enables us to work with even more clients. I’m excited to welcome the Peppercorn team to S&W.”
Donna Bulmer, regional managing partner at S&W, added, “This deal significantly enhances our tax advisory offering to clients in the North East. The Peppercorn team brings deep technical expertise and a proven track record of building trusted client relationships. Their commitment to exceptional service aligns perfectly with ours, and I look forward to working closely with our new colleagues to deliver tailored, high-quality advice across the region.”
Excitement and Future Prospects
Kelly Morgan, director at Peppercorn Tax, shared her excitement about the new partnership. She said, “We are delighted to be joining S&W and look forward to the great opportunities this presents for our team and our clients. Our success has been built on delivering exceptional technical expertise, combined with a deep commercial understanding of our clients and their businesses. Those same qualities are at the core of S&W’s values, and we are excited to be joining a firm with a strong national reputation and an excellent regional presence. We are confident that the broader suite of services that will now be available to our clients will enhance the support we can provide. We are really looking forward to working with Donna and her team in the North.”
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