London-based working capital solutions provider Demica has been acquired by a consortium of three US companies: JRJ Group, TomsCapital and 76 West Holdings.

Demica CEO Phillip Kerle tells GTR that the company’s strategic outlook no longer fit that of previous owner JM Huber Corporation, and that the new ownership structure is better suited for Demica’s long-term development. Demica hopes to benefit from the resources of its new owners as well as their experience in building and managing businesses in the financial services industry.

“JRJ Group, TomsCapital and 76 West Holdings have a successful track record of building and managing businesses in the financial services industry,” Kerle says. “The invoice finance market is still at a relatively early stage of development and its potential growth is what has interested this new consortium of investors.”

For Kerle, Demica’s acquisition signifies an increasing trend towards greater demand for a variety of working capital solutions, as the whole-invoice financing market continues to grow: “Various forms of invoice-based financing are now becoming mainstream in the strategic drive towards working capital optimisation,” he says.

“Emerging market opportunities will further prompt new initiatives and developments that can fulfil the increasingly sophisticated needs of customers.”