Former GE director and Hitachi Capital Franchise Finance chairman joins asset-based lending provider
Independent Growth Finance (IGF), a leading independent commercial finance provider, today announces the appointment of John Allbrook as Non-Executive Chairman. John will continue to build on the successes of Matt Cooper who during three years as Chairman helped IGF transition to a major independent asset based lender.
Since leaving GE Capital in 2004 John has built an impressive track record working with private equity and AIM-listed businesses in both the financial services and technology sectors. As CEO of GoIndustry plc John was instrumental in helping the company to secure an AIM listing. As Executive Chairman of Syscap he grew revenues and EBITDA significantly, enabling its successful sale to the Wesleyan Bank.
Since then John has built a non-executive portfolio, which has included both Borro Private Finance and Hitachi Capital-Franchise Finance, and is currently Non-Execuitve Chairman of Cellesce, a biotechnology start-up,as well as a Board Mentor with Critical Eye, the peer-to-peer Board community.
At IGF John will be providing counsel on how IGF can best continue to support the growth ambitions of SMEs, many of which are backed by the UK’s leading private equity houses. IGF has been funding the working capital and growth aspirations of UK businesses since 1997. The company works with businesses with a turnover of £1 million to £100 million with finance provided, predominantly on a secured basis, against receivables, inventory, plant & machinery and property. Later this month IGF will share its end of year results, showcasing its continued growth.
John Onslow, CEO of IGF said: ‘We are enjoying a strong phase of growth and are keen to maintain this trajectory. Our leadership team will benefit greatly from having access to John’s expertise. John has a wealth of knowledge and experience in the private equity space, a key growth area for IGF. His extensive experience makes him the perfect addition to our board.’
John Allbrook added: ‘I am pleased to be working with IGF at this interesting period for the UK economy. IGF’s range of asset-based lending solutions have never been more relevant to businesses that want to grow in uncertain times.’