Buyout deal announced for Newcastle corporate finance specialist
A corporate finance specialist has announced a buyout deal which will allow the business to further grow.
Newcastle-based Leathers Corporate Finance has exercised an option to complete the buyout of the company, which will include a full rebrand and relocation to new offices within the city.
The newly named Williams Ali Corporate Finance originally launched in January 2019, and will be remaining in the North East in its new move.
Abu Ali, co-founder, commented: “This is the next stage in our progression, and whilst it seems there are challenging times ahead for us all, we are looking forward to building Williams Ali Corporate Finance over the long term into a brand that is synonymous with quality, excellence and integrity.”
Michael Leather will step down as chairman as part of the move.
He said: “I always knew that Phil and Abu would be successful, and I have thoroughly enjoyed supporting them through their early growth phase.
“Whilst they will always be friends (we had intended to celebrate this deal together; clearly that won’t be possible in the current environment), this is the logical next move for them, and I look forward to seeing them thrive under their own new brand and surroundings.”
Abu added: “The support and encouragement that we have received from Michael to grow the business to this point has been superb and we will always be grateful.”
The buyout was completed with support from Martin Glaholm at HSBC and from Anthony Evans and his team at law firm Muckle.
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