JUST a month after acquiring Eurodrive Motor Finance, financing solutions firm Maxxia acquires Capex Asset Finance in a continuing growth strategy.
Birmingham-based asset finance brokerage Capex becomes the latest firm to join the group of businesses owned by Australian listed company McMillan Shakespeare Limited (MSL).
The acquisition forms part of MSL’s growth strategy in the UK and follows on from the acquisition of CLM Fleet Management in 2013, Anglo Scottish Asset Finance in 2015 and Eurodrive Motor Finance in December 2016.
Capex’s three existing directors Julian Percival, Alan Hunt and Warren Badger will all remain with the company.
The deal strengthens Maxxia’s presence in the UK asset finance market and continues its strategy for growth both geographically and through expansion in targeted areas of the market.
Maxxia CEO Roger Skinner said: “The Capex directors have extensive and detailed knowledge of the asset finance market and will bring significant attributes to the Maxxia Group, as well as contributing substantially to our position as a trusted partner for asset financing.
“The acquisition will involve minimal disruption to the Capex business as all three directors will continue to work in and manage the business so that, from a customer viewpoint, it will be very much business as usual.”
Julian said Capex Finance was delighted to be joining the Maxxia group of companies at this stage in the development of its business.
“The Maxxia Group has scale and resource, together with access to a breadth and depth of funders and financial products, that will allow us to strengthen our offering in a number of key areas.
“This is great news for our customers and creates significant growth opportunities for our business.”