Management team buys out PMD Business Finance
PMD Business Finance has been bought by three members of our executive team, Directors Tom Brown, Lee Schofield, and Rob Dermody. The deal allows PMD to plan our long term future, achieve our true potential and provides security for the fantastic PMD team.
There are no new third party shareholders and the business remains independent with the same Board of Directors. PMD continues to work with our customers, suppliers and partners as normal, supporting SMEs across the UK who are in need of financial help and advice. Retaining independence ensures our clients have access to the widest and most diverse range of finance products in the UK.
The two shareholders and founders – Peter Dobson and Mike Rodgers will retain a minority stake and continue to hold Board positions.
Tom Brown, Director of PMD, said:
“This deal marks a new chapter in our history that will cement our position as one of the UK’s largest true independents. The PMD ethos is centred around nurturing and developing talent and providing exceptional levels of customer service. I’m looking forward to continuing these values with our new management team.”
Fellow Director Lee Schofield added:
“As a team that understands the DNA of the business, Tom, Rob and I are delighted to have secured PMD’s long term future. We’ll build on the foundations laid by Peter and Mike and have ambitious plans to grow the business and become the UK’s leading independent asset and commercial finance intermediary.”
“This is an exciting development for our people, customers and lending partners. We’ve always encouraged our people to push their boundaries to reach their potential.
“Tom, Lee and Rob are a testament to that and Mike and I are proud to be passing the baton over to them. I’m confident they will take the business to new heights.”