trending Market Intelligence /marketintelligence/en/news-insights/trending/Y2XldcwMnRcWBCLZdVaHrw2 content esgSubNav
In This List

1pm unit acquires book of receivables

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Podcast

Street Talk | Episode 97: Recessionary fears still keeping bank investors on the sidelines

Blog

Making sanctions effective: Key themes for banks


1pm unit acquires book of receivables

AcademyLeasing Ltd., a wholly owned subsidiary of 1pm Plc, acquired a book of receivables for aconsideration of £1.6 million in cash.

Thebook comprises about 1,000 finance leases with small and medium-sized businesscustomers for vehicle fleet equipment, and has a gross receivable value of £2.0million, with an effective yield of 17%.

AcademyLeasing financed the purchase consideration entirely through headroom in itsblock funding facilities.

OnMay 5, 1pm said Academy Leasing is operationally familiar with the book'sunderlying customers, assets and lease agreements as it had provided a debtcollection service in respect of the book prior to the acquisition.