1PM PLC Academy Leasing acquires CarFinance2U

TIDMOPM

1PM PLC

13 December 2017

13 December 2017

1pm plc:

Academy Leasing acquires Wirral-based CarFinance2U

Academy Leasing, the Warrington-based vehicle and equipment finance provider, and a wholly-owned subsidiary of 1pm plc, the AIM listed independent specialist provider of finance facilities to the SME sector, is pleased to announce that it has acquired Wirral-based motor finance brokerage, CarFinance2U.

CarFinance2U, based in West Kirby, was co-founded in 2011 by Dan Rothwell and Mark Burgess. It provides vehicle finance facilities to customers across the UK. The business has enjoyed rapid growth over the past two years by delivering a fast, easy and efficient financing service seven days a week. It receives credit applications from motor dealerships throughout the UK and successfully sources the most competitive financing rates for their customers from amongst its panel of 13 lenders.

At the recent F & I Conference and Awards Ceremony held in Leeds in October, one of the UK motor finance and insurance industry's premier events, its levels of service and customer care, combined with its strong growth resulted in it winning "Broker of the Year" for 2017.

Commenting on the deal, Mark Burgess, co-founder of CarFinance2U, said:

"Joining forces with Academy Leasing, a well-established and respected motor and equipment finance provider, also based in the North-West, gives us a fantastic opportunity to further develop the CarFinance2U business and take it to the next level.

"As part of a much bigger group, we will be able to utilise greater operational resources across all aspects of the business, not least, access to more finance through Academy's panel of additional lenders as well as significant opportunities for cross-selling and the cross-referral of customers. We now also have the potential to develop a direct customer offering to complement our existing relationships with our motor dealership network through specialist lead generation and marketing capabilities".

Mike Nolan, Founder of Academy leasing and Managing Director of 1pm's Asset Finance Division, added:

"I'm delighted to welcome Mark and Dan to the Group. They have demonstrated their abilities to establish and grow their business rapidly in a competitive market environment, not least as a result of the high quality of service provided to their customers and I can see very considerable opportunities to further develop the business and its customer offering as part of the 1pm Group".

Enquiries:

Academy Leasing:

Mike Nolan Tel: [phone]

CarFinance2U:

Mark Burgess Tel: [phone]

 
 1pm plc 
 Ian Smith, Chief Executive              Tel: [phone] 
  Officer 
 James Roberts, Chief Financial          Tel: [phone] 
  Officer 
 
 
 Walbrook PR                                 Tel: [phone] 
                                                      8989 
 Paul Vann                                 or 07768 807631 
                                  [e-mail] 
 

About 1pm:

The Company was admitted to AIM in August 2006.

1pm plc is a group of established independent finance companies focused on providing SMEs with accessible funding to add value to their businesses. All customers must have good credit histories and proven ability to repay their finance commitments.

Mission Statement - 'Helping the UK economy grow by supporting SMEs'

More information is available on the Company website www.1pm.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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December 13, 2017 02:00 ET (07:00 GMT)