It’s been an exciting few months for the Zodeq team as we prepared for our acquisition by North West based debt and equity capital provider, Praetura Group.
Praetura offers SMEs an alternative to traditional institutional leaders; instead, it supports clients across a variety of sectors in providing funds ranging anywhere between £50k and £20m to ensure they are able to meet their strategic objectives.
What does the acquisition mean for Zodeq?
Since it was established, Zodeq has expanded beyond our wildest dreams, with more than 180 clients on our books and over £250m in working capital per year provided to SMEs throughout the UK. The acquisition by Praetura will enable the two businesses to provide invoice finance and invoice discounting on a greater scale. Ultimately, this will help our clients to improve cash flow, support in their operations and drive growth.
MD here at Zodeq, Paul Cooney has said:
“Praetura stands out in the industry, not just for its impressive growth in recent years, but for the quality of experience across its teams and reputation for supporting their clients with relationship-led lending through their ‘more than money’ approach, so joining forces was an easy decision to make.
After the robust existing position we’ve built through the fantastic Zodeq operations team, we’re so excited to take the business to the next level with our new partners. SME growth in the UK continues at pace, and the recruitment industry in particular is going from strength-to-strength, with record numbers of people looking to change their career path or take on new opportunities following the pandemic. We’re seeing an influx of entrepreneurs setting up exciting businesses in response to this market opportunity, and we’re committed to developing longstanding relationships and supporting the next generation of founders as they build their businesses.”
Managing Director at Praetura’s Lending Division, Peadar O’Reilly, has said of the acquisition:
“As a pioneering North West finance specialist, we’re very pleased to welcome the Zodeq team to the Praetura Group. The team has a track record for helping ambitious business leaders access the funding they need to achieve their goals and maximise their potential. At Praetura, we continue to expand our services to support a growing number of SMEs as they look to underpin the UK’s wider economic recovery. Combined, our teams will have even greater firepower in the market.”
If you are looking for finance or back office support for your recruitment business, contact the Zodeq team today by emailing [email protected] or calling 01244 617 087.
