Premier Commercial Wealth Management Secures £325,000 Loan from Development Bank of Wales to Support Director Buyout

The Development Bank of Wales has backed a management buyout at Premier Commercial Wealth Management with a £325,000 loan through its Wales Flexible Investment Fund, enabling the independent financial advisory firm to continue its operations following the planned retirement of one of its founding directors.

Founded in 2012 by former HSBC colleagues Jonathan Williams, Paul Tracey and Jeremy Reed, Premier Commercial Wealth Management is an FCA-authorised firm that provides financial advice to businesses across South Wales, including pensions, investment and tax planning services.

The loan facilitated the buyout of retiring director Jeremy Reed, ensuring business continuity for the firm’s remaining leadership team.

Jonathan Williams, Director at Premier, said:

“We were keen to look at routes to buy out our fellow director – Jeremy wanted to plan for retirement, while Paul and I wanted to carry the business on. The loan from the Development Bank has meant we’ve been able to follow the option of a buyout within the business, while doing so in a way which is aligned with our longer-term planning.

We’re a fiercely independent business, and each of us directors have had long careers in banking and finance. We know how difficult it can be to get a loan which suits what you need, without also possibly compromising your own plans.

But the support we had from Sally at the Development Bank was brilliant – she was first class, from start to finish, and supported us through everything we needed to do.”

Sally Phillips, Investment Executive at the Development Bank of Wales, said:

“It was a pleasure to work with Jonathan and the team at Premier Commercial Wealth Management in realising their plans as Jeremy looks ahead at retirement. We’re glad to have provided them with flexible and targeted support, and wish them the best with their continued growth.”

The Wales Flexible Investment Fund, financed by the Welsh Government, supports deals ranging from £25,000 to £10 million, offering loans, mezzanine finance, and equity investments for Welsh businesses with terms of up to 15 years.

For more information, visit www.developmentbank.wales