LONDON: Bentley Park (UK) Limited has reached an agreement to acquire Time Finance PLC in a recommended cash deal valued at approximately £55.13 million, the companies announced.
Under the terms of the acquisition, Time Finance shareholders will receive 59.1 pence in cash for each share they hold. The offer represents a 12.6% premium to Time Finance’s closing price of 52.50 pence on Aug. 14, the latest practicable date before the announcement.
The acquisition, which will be implemented through a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006, requires approval from Time Finance shareholders and the court.
Commenting on the Acquisition, Josh Levy, Chief Executive Officer of Bentley Park and Ultimate Finance, said: “This acquisition is an exciting opportunity to bring together two strong specialist lenders with complementary capabilities, shared values and a common focus on supporting UK SMEs. We believe Time Finance is a strong strategic fit for Ultimate Finance, combining a relationship-led approach, talented people and deep expertise, while creating opportunities to build on innovation and development using a genuine ‘best of both’ approach.”
“For more than 20 years, Ultimate Finance has helped SMEs access the funding they need to grow and succeed. With an unaudited net loan book of £430 million at the end of June 2026, we are entering this next chapter from a position of strength. This acquisition would create a larger, more scalable specialist lending platform with broader capabilities, greater resources and the ability to support more businesses across a wider range of funding needs.”
“We are excited about the opportunity this creates for our clients, introducers and employees of the Combined Group, while remaining focused on the long-term relationships and service that have underpinned the success of both businesses.”
Bentley Park, the parent company of specialist asset-based lender Ultimate Finance Group, has secured irrevocable undertakings from Time Finance shareholders representing approximately 47.36% of the company’s issued ordinary share capital. These commitments include those from Time Finance directors, who collectively hold about 2.36% of the shares.
The Time Finance board, advised by Cavendish, unanimously recommends that shareholders vote in favor of the scheme. The board cited the offer’s attractive premium to recent trading prices, including a 27.5% premium to the six-month volume-weighted average price of 46.34 pence per share.
“The acquisition presents a compelling route to fully realize the company’s long-term strategic and operational potential in the most efficient way possible,” the Time Finance board said in a statement, adding that combining with Ultimate Finance would create “broader platform, greater scale and additional resources” to accelerate growth.
Time Finance, an AIM-listed alternative finance company founded in 2000, reported £37.1 million in revenue and £7.9 million in pre-tax profit for the year ended May 31, 2025. The company’s unaudited net loan book stood at approximately £218 million as of June 30, 2026.
Ultimate Finance, established in 2002 and part of the Tavistock Group, has funded over £19 billion to U.K. small and medium-sized enterprises to date. The combined entity would have a net loan book of nearly £650 million, based on unaudited figures from June 30, 2026, spanning asset finance, invoice finance and bridging finance products.
Bentley Park said the acquisition would create “a significant independent alternative lender” with the scale, product breadth and funding infrastructure to serve U.K. SMEs across their working capital and asset investment needs.
“While M&A has never been Bentley Park’s primary strategy for the Ultimate Finance Group, and the Ultimate Finance Group continues to see strong organic growth opportunities, the acquisition is expected to materially accelerate loan book growth, profitability and market presence,” the company said.
Bentley Park reserved the right to reduce the offer price if Time Finance declares any dividend or distribution before the deal becomes effective.
Following the sale of its investment in Avenue Insurance Partners Limited in November 2025, Bentley Park’s sole investment is Ultimate Finance. If the acquisition is completed, Bentley Park will act as a holding company for both Ultimate Finance and Time Finance.
