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March 1, 2017

Greenaway Scott advises on million pound acquisition of Cardiff finance company

Greenaway Scott recently advised on the six figure share acquisition of specialist lending company, Intelligent Loans Limited.
Intelligent Loans which trades as iLoans has been acquired by publicly listed asset finance management company 1pm plc in a deal worth up to £2 million pounds. The deal closed with a completion price of just over £1,150,000 with a further £800,000 payable contingent on iLoans projected profits between now and May 2019.
Founded by Alun Winter and Robert Coles, iLoans is a Cardiff based specialist broker dealing in mortgages, bridging finance, commercial lending and secured loans. The acquisition of iLoans has allowed 1pm to expand on its ability to provide a wide range of loan services to SME's with the establishment of a new loans division which is said to replicate its funding and brokering business model.
Rob Coles, who will be continuing with iLoans as a Director alongside Alun Winter commented "we are delighted to have completed and to be part of the team with 1pm. The synergy with the Intelligent Loans business and culture is enormous and we are pleased to have reached completion with 1pm, and are equally excited to continue to develop the business and its opportunities as part of the larger group."
Rob added "we would also very much like to thank the team at Greenaway Scott for achieving completion ahead of time".
Matt Sutton of Greenaway Scott commented "we are pleased to have advised on this, and to have achieved such a positive result for our long standing client Intelligent Loans".

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