First Capital Finance, an independent provider of asset and vehicle finance was acquired by STAR Asset Finance in December 2015.
First Capital was established in 2001 and focuses on supporting local businesses and schools. Much of its business is generated through existing customers and referrals. In more recent years it has sought a strategic partner to support further growth and develop the company.
First Capital has the ability to act as a principal lender while having long-standing relationships with a large number of panel funders. This allows the Company to provide a wide range of competitive financing packages to its customers. Individual financings range from £1,000 to £1 million per transaction.
The company continues to be lead by its experienced management team consisting of Richard Perry, David Mogg and Darren Venton. As part of the transaction, Richard, David and Darren have become investors in STAR Asset Finance.
Richard Perry, Joint Managing Director of First Capital, said: “When looking for a partner to support the further development of First Capital, we focused on personal and strategic fit. We are excited to be part of STAR Asset Finance, which pursues a hybrid strategy of being a principal lender and a broker – just like us. The opportunity to reinvest in the parent company was very attractive to us.”
Sam Geneen, Chair of STAR Asset Finance, said: “First Capital is an attractive addition to STAR Asset Finance. The Company is well-established in its markets and has been successfully supporting a wide range of customers with their asset finance requirements since 2001. As part of STAR Asset Finance, we’re supporting the continued development of the Company and have a great team as active members of our group.”
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.