Ignition Credit, a leading independent provider of asset and vehicle finance in South West England, joined the STAR Asset Finance group in March 2015.
An established provider of competitive financing packages, Ignition Credit has a strong customer base and was seeking to strengthen its position in the sector by becoming part of larger group without losing their independence.
The company continues to be run by its existing management team consisting of Alan Tutte, Steve Hunt and Paul Caunter. The three Directors have been working ￼together successfully for many years and have a deep understanding of the markets they operate in.
As part of the acquisition, Alan, Steve and Paul have become investors in STAR Asset Finance.
Alan Tutte, Managing Director of Ignition, said: “By being able to arrange finance quickly and at competitive terms, we have been able to establish Ignition as the leading independent provider for asset and vehicle finance in the South West. Today, over 70% of our business is generated from existing customers or customer referrals. We are an active partner in STAR Asset Finance where I believe we play an important role in realising the group’s strategy.”
Sam Geneen, Chairman of STAR Asset Finance, said: “Ignition is a highly attractive business with a strong track record of profitable growth and an impressive management team. In addition to expanding our geographical reach, the Company further extends our financing capabilities for SMEs by creating a focused offering for plant and machinery as well as vehicles. We welcome Alan, Steve and Paul and look forward to working together.”
If you’re a like-minded independent asset finance and leasing business and would like to grow as part of the STAR Asset Finance group contact our team.