The Blackburn-based asset finance provider said the funds would be investing alongside Haydock’s founder and chief executive chairman Jon Wilkinson.
“This is a tremendously exciting development for Haydock, a company that has been successfully built over a 37-year period from its base in Blackburn,” said Jon.
Haydock offers hire purchase and finance lease funding to business customers across the UK and is led by Jon, Steve Worrall, managing director, and Ian Barr, credit and risk director, who will all continue to run the business.
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Haydock hopes that with Apollo’s backing it will be able to grow its market share within the current segment focus and develop the business offering into larger and more competitively priced markets.
“Apollo is a leading global alternative investment manager and I believe working together with them offers huge potential for our existing and future introducers and business customers,” added Jon.
“Already a long-established name in asset finance, Haydock has exciting plans to grow market share in the UK and to diversify our competitive offering.”
Haydock was advised on the transaction by EY and Squire Patton Boggs.
The agreement is subject to customary conditions and is expected to close in Q1 2018.
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