Truro-based Ignition, a leading provider of vehicle and asset finance for SMEs in the South West, is welcoming another significant finance provider to its Group, which will help boost its offering in the South of England. Ignition’s parent company, STAR Asset Finance, began the year by completing the acquisition of First Capital Finance Limited.
Based in Bournemouth, First Capital has established itself as one of the leading independent providers in the region, focusing on businesses and schools. The company will continue to trade as First Capital and will be lead by the existing experienced management team.
Commenting on the announcement, Paul Gough, Partner at STAR, said:
“The strategy of STAR Asset Finance is about bringing together successful businesses run by strong management teams and supporting them in achieving their growth ambitions. We are very pleased that First Capital has become part of the Group.”
“Since its inception in July 2014, STAR Asset Finance has become a vital source of financing for UK SMEs. The Group now employs more than 90 asset finance specialists and is set to arrange over £120m in asset and equipment finance for thousands of UK businesses over the next 12 months. First Capital represents its fourth acquisition, with the company acquiring Ignition in April 2015, and further builds the Group’s offering to businesses in the South of England.”
Ignition Managing Director, Alan Tutte, commented:
“STAR has made an exciting start to the year with the acquisition of First Capital. It’s very positive to see the Group continue to grow and strengthen, and we’re pleased to welcome First Capital to the STAR family.”
For further information on Ignition, visit www.ignitioncredit.co.uk or call 01872 272900.