Paul Naden shelves plans to puchase Churchwood Financial
Well known financial services entrepreneur Paul Naden has temporarily shelved plans to buyout Churchwood Financial, the Stockport based debt management business.
Churchwood is owned by Mike Noblett who owns 70% of the company whilst Naden has 13% which he purchased last year. Naden’s plan was to buyout Noblett’s majority shareholding via a private equity deal, however Naden feels that the takeover has taken up too much of his time and wants to pause so he can spend more time on developing the business.
Results for the group are still impressive with turnover increasing to £24m in the year to April 30 and earning before EBITDA was £6.3m
Naden hopes to revisit the deal at the end of this year.
