News - Midlands
Santander snaps up Liquidity
Banking group Santander has bought Liquidity, the Birmingham-based specialist factoring and invoice-discounting provider. Liquidity was established in Birmingham in 2004 and also provided services across the south of England via its Southampton operation. Steve Pateman, head of Santander corporate and commercial banking, said: “Liquidity is a strong specialist business, and this acquisition enables us to accelerate our plans to offer factoring and invoice-discounting services to all UK clients. An immediate priority for the bank is to recruit experienced industry specialists to extend the strong regional focus Liquidity achieved to the rest of the UK.” David Totney, director at Liquidity, added: “The acquisition starts a new chapter for the Liquidity team. Santander, like Liquidity, has a relationship-led proposition based on providing a high-level service. I believe that many of our customers will benefit from the products and services that this transaction delivers.”