Supply@ME Capital PLC (LON:SYME) has completed its deal to acquire TradeFlow Capital Management as it positions for a phase of growth.
The company noted that TradeFlow, described as “a FinTech-powered commodities trade enabler”, has been independently valued at around £31mln.
The purchase is being made using cash and shares. It has issued 813mln new shares to the vendors plus 500mln shares to intermediaries and introducers. Another 164mln new shares are to be issued in relation to loan notes bought by Negma Group.
“The acquisition will establish Supply@ME as the market leader in inventory monetisation and will generate a number of highly attractive synergy benefits for the company in terms of funding and customer origination,” said Supply@Me chief executive Alessandro Zamboni.
“By joining together, we now have an enhanced platform with an offering for the supply chain sector which is unparalleled.
“We are also assembling an exceptionally strong board with the depth and breadth of experience necessary to maintain our momentum and we will continue to strengthen this team as opportunities present."
Supply@ME is appointing two new executive directors, Tom James and John Collis, who will remain attached to the TradeFlow business.