MBO completed at capital finance provider
Anglo Scottish Asset Finance Ltd has confirmed completion of a management buyout (MBO) to take back control of the business.
The investment is backed by a consortium of UK-based funders, the company’s original founding directors, wider management team, existing employees, and contractual agents.
Founded in 2007, Anglo Scottish established its name in the finance brokerage sector.
In 2015, the company was acquired by McMillan Shakespeare Group, a publicly listed Australian company seeking an appropriate acquirer for its UK operations following a strategic view to exit the UK and focus on its core capabilities down under.
The MBO will result in an expansion of the business’s presence in the UK as Anglo Scottish aims to develop a new funding option for customers while establishing new partnerships, joint ventures and strengthening relationships with current funding partners.
It plans to leverage new technologies and expand its capacity to secure new clients and support partner relationships in the industry. The funding raised will support these initiatives as the Anglo Scottish brand continues to develop.
The MBO follows a year in which Anglo Scottish added three new divisions – Renewables, Agriculture and Ground Transport – to its existing structure, which already covers Vehicle Finance, Asset Finance, Commercial Finance and more.
The company has increased its headcount to 86, with newly employed staff based in Yorkshire, Merseyside, Scotland, London, and Devon. It has also grown its network of tied agents to 68.
Additionally, the company brokered over 12,900 deals in the financial year 2022/23, reaching a substantial milestone with over £519m worth of brokered business within the year.
Managing director David Foster said the MBO marks a “landmark moment” for Anglo Scottish and its leadership team.
He added: “With this continuing growth, we see a huge opportunity to develop a new way of doing business, offering a broker/funder hybrid service to our customers and bringing us closer to our industry partners.
“While the MBO gives us the financial strength to broaden our market and offering, we will maintain the identity and independent approach that our existing customers and partners have come to expect.
“We look forward to a promising future, anticipating continued growth and success for our management team, employees, and the businesses and individuals we serve.”
