The deal will create a combined net loan book of nearly £650m
Financial services firm Time Finance has agreed to a £55.1m takeover by a specialist asset-based lender. The Bath-headquartered company, which also has offices in Manchester, Warrington and Reading, has agreed terms with Bentley Park, the parent company of Ultimate Finance, reports BritPanorama.
Under the transaction, Time Finance shareholders will receive 59.1p per share in cash — a premium of around 12.6 per cent to the closing share price on Friday and a 23.5 per cent premium to the volume weighted average price for the three-month period ended August 14.
The deal will create a combined net loan book of nearly £650m. Shares in Time Finance climbed as much as 10.5 per cent on the news on Monday.
Ed Rimmer, chief executive of Time Finance, remarked, “The Time Finance board has spent a great deal of time considering the offer from Ultimate Finance. Over the course of our discussions with the Ultimate Finance team, it became clear very early on that they genuinely respect what the Time Finance teams have built and that we share a lot of mutual ambitions for the continued growth of the business going forward.”
Time Finance is a non-bank alternative finance company, providing UK businesses with flexible funding facilities in the shape of asset finance, invoice finance, business loans, and asset-based lending. The firm was founded in 1998 as 1pm Plc and has recorded organic growth in its lending book for 20 consecutive quarters to May 31, 2026.
Mr Rimmer added, “The Time Finance board believes there is a strong strategic fit between the two businesses, the combination of which will create a broader platform, introduce the benefits of additional scale and provide additional resources that can support future growth, without losing the focus on customers and introducers that have made our business great in the first place.”
It is understood that Bentley Park’s interest in the acquisition is driven by the opportunity to create a larger multi-product UK SME lending platform. Ultimate Finance, a wholly owned subsidiary of Bentley Park, was founded in 2002, with offices in London, Edinburgh, Lutterworth, Leeds, and Manchester. The company had an unaudited net loan book of £430m at the end of June 2026.
Josh Levy, chief executive of Bentley Park and Ultimate Finance, described the deal as “an exciting opportunity” to unite two specialist lenders with “a common focus on supporting UK SMEs.”
He stated, “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.”
Mr Levy further pointed out that “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,” he concluded.
The transaction is expected to be implemented through a court-sanctioned scheme of arrangement and will be subject to shareholder, court, and regulatory approvals.
The acquisition of Time Finance by Bentley Park underscores a notable trend in the UK financial services sector, where consolidation among lenders enhances competitive positioning and scalability. As businesses navigate an increasingly complex funding landscape, the integration of these two firms suggests a strategic alignment that could strengthen support for UK SMEs while potentially reshaping the lending market facing broader economic challenges.
