Bibby Financial Services acquires Arbuthnot Commercial Finance

2008-08-04 21:14:03 -

www.bibbyusa.com - Bibby Financial Services has announced today that they have acquired Arbuthnot Commercial Finance, an independent factoring company. The deal, which was completed on July 31, 2008, forms a key part of their United Kingdom and Irish expansion strategy. Based in St Leonards-on-sea in the United Kingdom, the business was established in 1994 and has evolved into a strong organization with 100 clients with 27 employees.

Stewart Chesters, Chief Executive, Bibby Financial Services (Holdings), commented, "We have set ourselves a challenging growth objective, and in order to achieve this, we are continually looking for opportunities to move the business forward. We believe that this acquisition will bring a tremendous value and forms a key part our global expansion strategy".

Roger Taylor of Arbuthnot Commercial Finance, adds, "We are delighted to be a part of Bibby Financial Services. We have looked at the innovative way they have grown their business in recent years. They are recognized in the market as a leading contender and we are excited to be part of that!"

Bibby Financial Services has an ever expanding regional presence throughout North America with businesses in Atlanta, Chicago, Dallas, Houston, Los Angeles, Nashville, Phoenix, Toronto and West Palm Beach. Its global reach extends to 11 countries, recently opening businesses in Germany and India. In addition to Receivables based Lines of Credit and Factoring, BFS also provides Trade finance from Letters of Credit to Purchase Order finance, Export finance, and specialist teams for Freight Bill funding and Temporary Staffing businesses.

Notes to Editors

Bibby Line Group is a business-to-business services group involved in ship owning and operation, shallow water accommodation, offshore oil field services, contract logistics, financial services, memorial parks, employment law and health and safety advisory services, and retail.

Bibby Financial Services is a world wide, market leading specialist of business cash flow solutions to small and medium sized enterprises. Their product portfolio includes receivable finance, factoring, export finance, purchase order finance, and specialist solutions for the staffing and trucking sectors.

Operating via a global network of 29 autonomous operating companies in the United States, Canada, the United Kingdom, France, Germany, India, Ireland, Poland, Czech Republic, Slovakia and Australia the group purchased more than $10 billion dollars of receivables and had more than 7,000 clients worldwide.

For more information on Bibby Financial Services, please visit: www.bibbyusa.com www.bibbycanada.ca www.bibbytf.com www.bibbystaffingfinance.com www.bibbyfinancialservices.com

For more information on The Bibby Line Group of Companies, please visit: www.bibbygroup.co.uk.

Bibby Financial Services
Jennie Wills, VP Marketing
jwills@bibbyusa.com
(630) 493-3106