Ultimate Finance has acquired Time Finance plc in a deal completed for an undisclosed amount. The transaction brings together two established players in the UK commercial finance sector, with Ultimate Finance assuming full ownership of the AIM-listed lender.
Time Finance specialises in providing funding solutions to UK businesses, offering a multi-product range that includes asset finance, invoice finance, business loans, and asset-based lending. Since deploying a new strategy in 2021, the company has expanded rapidly, and as of November 2023 it was providing over £188 million in funding to support business growth plans. Time Finance operates from four UK locations-Bath, Reading, Manchester, and Warrington-and was recognised as Employer of the Year in 2020.
Ultimate Finance, the acquiring party, is understood to be pursuing a consolidation strategy within the sector. The purchase of Time Finance broadens Ultimate Finance’s product portfolio and extends its geographic reach across the UK. For Time Finance, the acquisition provides access to the resources and capital base of a larger parent organisation, which may accelerate its lending capacity and operational efficiency.
The rationale behind the deal centres on complementary strengths. Time Finance’s diversified product set and established client relationships are expected to integrate with Ultimate Finance’s existing distribution channels and underwriting capabilities. Both companies serve similar small and medium-sized enterprise customers, which could allow for cross-selling opportunities and streamlined back-office functions. The combined entity is likely to hold a stronger position in the competitive UK funding market, where scale and product breadth are increasingly important.
Post-acquisition, the focus will be on integrating operations while maintaining service continuity for existing borrowers. Time Finance’s regional presence is expected to remain intact, preserving local decision-making that has been central to its growth. The combined business is positioned to expand its lending volumes and pursue further market share, provided integration proceeds smoothly and client retention remains high.