BDO has provided financial due diligence and SPA advisory services on the acquisition of Motion Finance (2017) Limited by Evolution Funding Group Limited.
LDC-backed Evolution Funding, the UK's largest independent motor finance broker and technology provider, has been helping used car dealers sell more cars on finance since 2002, facilitating over £1.2billion in used car finance transactions in 2022. Evolution employs around 390 people UK-wide, financing 87,000+ vehicles a year, and supporting 4500+ motor dealers.
Motion Finance is an independent motor finance broker handling c.£200m advances annually with the transaction increasing Evolution’s advances to more than £1.5billion and marking its second bolt-on following the acquisition of Click Dealer in 2021. The business will continue to operate under its own brand, with Motion Finance’s existing management team remaining in place.
"This is the third transaction that the BDO financial due diligence team has supported us on. They built a strong relationship with the target management team and coupled with their sector insight and use of data analytics, this enhanced our understanding of the trading dynamics of the business.
The report was high quality, concise in nature and updates/findings were always provided in a timely manner."
Kevin Kaye, Finance Director, Evolution Funding Group Limited