Asset finance firm bought by London group

BIRMINGHAM asset finance firm Capex has been bought by Maxxia UK as it continues its acquisition strategy.

London-based Maxxia, which is part of McMillan Shakespeare, has previously purchased Eurodrive and Anglo Scottish Asset Finance.

Capex began trading in 2004, and offers asset finance for businesses of a variety of sizes. Its founders – Julian Percival, Alan Hunt, and Warren Badger – will remain with the business.

Mr Percival said: “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.”

Roger Skinner, chief executive officer at Maxxia UK, added: “Capex is a perfect fit with our business and continues our targeted growth plans in the asset finance sector, as well as improving our geographical coverage of the UK.

“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.”