14th December 2017: Haydock Finance Limited (“Haydock”), the Blackburn-based asset finance provider, is pleased to announce that certain investment funds managed by affiliates of Apollo Global Management, LLC (“Apollo”) have signed an agreement to acquire a majority shareholding in Haydock, investing alongside Haydock’s founder and Executive Chairman Jon Wilkinson. The agreement is subject to customary conditions and is expected to close in Q1 2018.
Established in 1980, Haydock is one of the largest independent finance companies in the UK, offering Hire Purchase and Finance Lease funding to business customers nationwide. The existing management team, led by Jon, Steve Worrall (Managing Director) and Ian Barr (Credit & Risk Director), will continue to run the business. Backed by strong investment support from Apollo, the team has identified opportunities to grow market share within the current segment focus and to develop the business offering into larger and more competitively priced markets.
Jon Wilkinson, Executive Chairman of Haydock, commented:
“This is a tremendously exciting development for Haydock, a company that has been successfully built over a 37 year period from its base in Blackburn. Apollo is a leading global alternative investment manager and I believe working together with them offers huge potential for our existing and future introducers and business customers. Already a long established name in asset finance, Haydock has exciting plans to grow market share in the UK and to diversify our competitive offering.”
Haydock’s advisers on the transaction were EY (Financial) and Squire Patton Boggs (Legal).
Steve Worrall, Managing Director
+44 (0) 1254 685785
Maitland (for Apollo)
+44 (0) 207 379 5151
About Haydock Finance Ltd
Established in 1980, Haydock Finance Ltd is one of the largest independent finance companies in the UK reporting a tangible net worth in excess of £20 million.
Haydock provides credit facilities to business users for the finance of standard saleable assets, with opportunities introduced to our office in Blackburn through a selected panel of approved finance brokers. Haydock provides an efficient and personalised level of service to its brokers and customers whilst maintaining a high level of knowledge and expertise in terms of underwriting and collections.
With gross receivables in excess of £125 million, Haydock retains an enviable position in our chosen markets and is very much “open for business” for new hire purchase, leasing and refinance proposals for business assets including buses, coaches, industrial plant & machinery, trucks, trailers, commercial vehicles, cranes, forestry / agricultural equipment, machine tools and renewables.
Haydock is regulated by the Financial Conduct Authority (FCA), a patron member of the National Association of Commercial Finance Brokers (NACFB) and a member of the Finance & Leasing Association (FLA).
About Apollo Global Management, LLC
Apollo Global Management, LLC is a publicly listed (NYSE: APO) leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had total assets under management of approximately $242 billion as of September 30, 2017 in private equity, credit and real asset funds invested across a core group of nine industries where Apollo has considerable knowledge and resources.
For more information about Apollo, please visit www.agm.com.