OakNorth the digital bank for entrepreneurs, by entrepreneurs, has provided loan facility to AMS Group, the Manchester headquartered, full-service professional services firm.
Established in 1982, the AMS Group is a national full-service professional services firm specialising in creating value for mid-market clients. The Group have a differentiated approach to maintain the highest levels of client satisfaction through dedicated Relationship Managers, who are personality-profiled to the requirements of each mid-market client.
The loan from OakNorth will support AMS in its strategy to further strengthen their market position in the North West mid-market and accelerate the Group’s “buy and build” strategy of complimentary accountancy and advisory businesses situated across the UK.
Ebrahim Sidat, Chief Executive Officer, AMS Group
“As we strive towards achieving our vision to provide a mid-market ‘big-4’ solution (with the breadth and depth of services) this bespoke funding from OakNorth will allow us to continue scaling the business further and faster via our “buy and build” strategy, which will also help us to build more long-term relationships with our clients. Sean and the OakNorth team were highly attentive and entrepreneurial throughout the entire transaction, structuring the loan that solved all our funding requirements under one bespoke facility.”
David Clegg, Senior Partner, AMS Group
“As an organisation, we continue to take advantage of our advisory led approach to achieve strong organic growth across all service lines, this funding and subsequent acquisitions will allow the Group to capture more of the ‘lost opportunity’ from our client origination team (which has been driven by resource constraints for the Group)” Sean and the team have been a pleasure to do business with and we look forward to working with OakNorth in the future.
Sean McCormick, Associate Director of Debt Finance at OakNorth, added:
“The transaction represented another perfect opportunity for OakNorth to support one of the region’s leading professional services firms. With the UK’s accounting and audit market set for significant growth in the future1, AMS Group is in a perfect position to capitalise on this tailwind via its exciting and already highly successful “buy and build” strategy. We look forward to working closely with Ebrahim and David again moving forward, whilst also keeping an eye on what’s next for the firm’s impressive growth journey.”
ENDS
Notes to editors
1 BIS World – Industry Report Nov 2023: Accounting & Auditing in the UK
About OakNorth
Launched in September 2015, OakNorth is the digital bank for entrepreneurs, by entrepreneurs, empowering scale-up businesses (£1m-£100m turnover) to support growth, prosperity, and innovation for the benefit of all.
Since its launch, the bank has:
- Lent over £10bn to these businesses, directly helping with the creation of 40,000 new jobs and 29,000 new homes across the UK.
- Raised deposits from c.254,000 savers.
- Supported several hundred businesses across the UK with the debt finance to pursue their growth ambitions.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
Media contact
Tom Pavey-Smith, Associate Director, Growth & Communications – [email protected] / [email protected] / 0791 716 5588