FRP CORPORATE FINANCE DELIVERS SALE FOR TRADETEQ

FRP Corporate Finance has outlined its role supporting technology firm, Tradeteq, on its sale to working capital structuring and advisory firm, Silver Birch Finance.

Based in London, Tradeteq provides alternative lending platforms, banks and investors with tools to manage their transactions, with products including securitisation as a service, workflow automation and on-demand reporting. Since its launch in 2016, the business has attracted significant backing, allowing it to invest more than $40million in building its technology platform.

The London-based team at FRP Corporate Finance was appointed as lead sell side adviser to Tradeteq with a mandate to find a new owner who would support the business through the next phase of its growth plan.

The FRP team, led by partner Ben Hughes and with the support of Liam Merritt and Adrien Vendran, targeted a number of financial and strategic investors in both the UK and overseas which ultimately resulted in Silver Birch Finance being given preferred bidder status in early April. Both teams subsequently undertook an accelerated due diligence process while negotiating legals to enable the transaction to complete in under three months.

The deal will allow Silver Birch Finance to increase its working capital volumes, while benefitting from Tradeteq’s synthetic risk transfer solutions.

Ben Hughes, partner at FRP Corporate Finance, said: “We very much enjoyed working with the Tradeteq team and were delighted to find an extremely relevant and supportive new owner for the business. Tradeteq’s proven technology and expert team will be a fantastic asset for Silver Birch Finance as it continues to expand.”

Christoph Gugelmann, co-founder of Tradeteq, said: “Since our launch, we’ve worked to build strong customer relationships with leading banks, asset managers and investors in trade finance, and we know that the team at Silver Birch are well positioned to continue to support, develop and grow these relationships. This deal represents a new chapter for Tradeteq, which would not have been possible without FRP Corporate Finance’s advice and expertise, which was crucial in delivering a successful outcome.”

Sean Hanafin, CEO at Silver Birch Finance, said: “ We are delighted to welcome Tradeteq to the Silver Birch Finance group as the combination of our businesses further enhances our capabilities and enables us to continue to scale significantly. This acquisition marks a major milestone in our journey to bridge the multi-trillion-dollar trade financing gap between multinational corporates and funders and aligns with our strategy to grow both organically and through acquisition.”