Acquisition of Rockford Associates Ltd by Oxygen
Summary by AI BETAClose X
28 October 2026
TruFin plc
("TruFin" or the "Company" or together with its subsidiaries, the "Group")
ACQUISITION OF ROCKFORD ASSOCIATES LTD BY OXYGEN FINANCE
TruFin is pleased to announce that its subsidiary, Oxygen Finance Group Limited ("Oxygen"), has acquired the entire issued share capital of Rockford Associates Ltd ("Rockford") for a consideration of £1.8m, payable in cash on completion, with a further £0.2m payable subject to the achievement of agreed Q4 EBITDA targets following completion (the "Acquisition"). The consideration is net of the cash acquired.
The Acquisition gives Oxygen an in-house capability to deliver overpayment audits to its clients. An overpayment audit identifies and recovers sums paid in error, including duplicate payments, VAT errors, unclaimed statement credits and fraudulent payments.
Oxygen already offers overpayment audits to many of its existing early payment clients, delivered through a third-party provider. Following the Acquisition, Rockford will provide overpayment audits both to its own client base and to Oxygen's early payment clients.
Rockford was founded in 2002 and has more than 60 active clients, with returning clients accounting for more than 80% of revenue. Its clients operate across a range of sectors, including housing, healthcare, education, local government and the private sector.
The consideration of the Acquisition has been funded from the Group's existing cash resources and is expected to be earnings accretive for the Group from its first full year of ownership.
Commenting on the acquisition, Vicki Sloane, Chief Executive of Oxygen, said: "We are delighted to welcome Rockford to Oxygen. Their experience and established client relationships complement our own and create opportunities to grow our overpayment audit business. We look forward to working with the team to help more clients recover funds and achieve greater value from their spending."
|
Enquiries: |
|
|
Panmure Liberum (Nominated Adviser and Corporate Broker) |
|
About TruFin plc:
TruFin plc is the holding company of an operating group comprising two growth-focused technology businesses operating in niche markets: early payment provision and invoice finance. The Company was admitted to AIM in February 2018 and trades under the ticker symbol: TRU. More information is available on the Company website: www.TruFin.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 2 days ago City of London Investment Group
- 2 days ago Aberdeen Group plc
- 2 days ago NATWEST GROUP
- 2 days ago Ondo Insurtech
- 2 days ago Banco Santander S.A.