Speechly Bircham has advised the shareholders of SME Invoice Finance, which specialises in invoice discounting, factoring and cash-flow funding for small and medium-sized businesses, on its sale to Metro Bank plc, Britain's first new high street bank in more than a century.

The acquisition will see Metro Bank broaden its offering, with business customers now being able to access invoice and asset financing to suit their individual business needs. SME will continue to trade in its own right as a specialist operation under the Metro Bank umbrella, and all SME customers will continue to be serviced directly.

David Hogg, Managing Director of SME Invoice Finance said: "We are absolutely delighted to join Metro Bank and together we will provide the best possible environment for the continued growth, development and prosperity of all our clients, staff and business partners."

The Speechlys team was led by corporate partner Will Nash, supported by Jaspal Sekhon (corporate), Chris Manning (corporate), Harbans Chohans (real estate) and Robert Birchall (corporate tax).

Commenting on the deal Will Nash said: "We were delighted to see this transaction through to a successful conclusion for SME's institutional and management shareholders whilst delivering a future for the business within Metro Bank plc."

Cavendish Corporate Finance (Andrew Jeffs) provided corporate finance advice to the shareholders. King & Spalding were legal advisers to Metro Bank plc.