The Board of PCF Group plc has announced that it is in early-stage discussions with Castle Trust Capital plc, in relation to a possible all share offer for the entire issued and to be issued shares of the Company.
Under the terms of the possible offer, it is expected that PCF shareholders would have a small minority position in the combined group.
PCF Bank was established in 1994 and became a bank in 2016. It operates within the bridging and commercial finance sector and also provides car finance.
Castle Trust Bank was launched as Castle Trust in October 2012 with backing from US private equity firm J.C. Flowers & Co. It expanded its operations with the acquisition of Omni Capital Retail Finance in 2017, adding point of sale finance to its range of services. It became a bank in 2020.