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Tuesday, 11 August 2009

Cattles Invoice Finance Finds New Home

Good to hear that the good guys and gals of Cattles are now looking forward to a new home, with an announcement yesterday that Anacap Financial Partners has purchased the invoice discounting/ factoring company for £70m.

I had predicted that Cattles IF would find a new home and break away from the distressed parent Cattles plc which has had its shares suspended since April over some financial irregularities and the sacking of much of its executive.

According to a press release we received yesterday, from Cattles IF, its business as usual and the Times reports that the sale should be completed by September.

Having worked with them for many years, we wish the team at Cattles IF (soon to be renamed?) all the best in the future. They have a solid understanding of insolvency, turnaround and company voluntary arrangements (CVA's). We have a number of long running mutual clients and hope we can do many more deals in future.

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