LeaseDirect Finance sold to PE firm Cabot Square

ASSET finance provider LeaseDirect Finance has changed hands in multi-million pound deal.

LeadeDirect, based at Ewloe near Chester, has been sold to Cabot Square Capital by Investec Asset Finance.

Terms of the deal were not disclosed. London-based private equity investor Cabot Square Capital has also agreed a £75m block discounting facility with Investec Asset Finance.

Roger Hart, corporate partner at Addleshaw Goddard in Manchester, led a 55-strong team that advised on both the sale by Investec and the new facility.

Mr Hart said: “Investec has made a good return and will remain an ongoing partner of LeaseDirect Finance. These were complex and innovative transactions and we played a major part in delivering them.”