Time Finance agrees £55m takeover by Ultimate Finance parent
Proactive
Mon, 17 August 2026 at 11:32 am GMT+5:30
2 min read
- TIME.L
+10.48%
Time Finance PLC (AIM:TIME) has agreed to a recommended £55.13 million cash takeover by Bentley Park (UK) Limited, the parent company of specialist lender Ultimate Finance Group Limited, in a deal aimed at creating a larger UK SME lending platform
Under the offer, Time Finance shareholders will receive 59.1 pence in cash for each share, representing a 12.6% premium to the company’s closing price of 52.5 pence on 14 August 2026. The offer is also a 23.5% premium to the 3-month volume-weighted average price and 27.5% above the 6-month average
Time Finance’s directors have unanimously recommended the acquisition, having been advised by Cavendish that its financial terms are fair and reasonable
Bentley Park has already secured irrevocable undertakings covering around 47.36% of Time Finance’s issued share capital, including commitments from the company’s directors and major shareholders Arena Investors, GPIM Limited and Ron Russell
The transaction would combine Time Finance with Ultimate Finance to create a specialist alternative lending group with a combined unaudited net loan book of nearly £650 million as at 30 June 2026
Time Finance had a net loan book of around £218 million at that date, while Ultimate Finance’s stood at approximately £430 million
Bentley Park said the combination would bring greater scale, broader products and distribution capabilities, while creating opportunities for cross-selling and further loan book growth
Time Finance provides asset finance, invoice finance, business loans and asset-based lending to UK businesses and recorded 20 consecutive quarters of organic lending book growth to 31 May 2026
The transaction is expected to be implemented through a court-sanctioned scheme of arrangement and remains subject to shareholder, court and regulatory approvals, including FCA clearance
The scheme document is expected to be distributed within 28 days, with the acquisition currently expected to become effective during the fourth quarter of 2026
