Cabot Square Capital, the specialist financial services private equity investor, has acquired motor finance funder Blue Motor Finance.
Blue Motor Finance will offer auto finance backed by equity investment from Cabot Square Capital and a new £200m (251m) long term funding facility provided by an undisclosed bank.
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The company has agreements with fifteen major dealer networks and brokers that will use Blue Motor Finance’s funding and plans on significantly expanding its introducer relationships in the coming months.
Jones said: "The partnership with Cabot Square Capital and the new funding line will help us to meet the demand in the market for a finance provider that can address the needs of all prime borrowers, and give dealerships quick and consistent decisions."
"We aim to be a one stop shop for motor finance, and with our previous track record of providing industry-leading solutions we are sure that consumers and dealers will welcome the new choice we bring to a market."
"We believe that the £200m of capacity we currently have in place is just the beginning, as there is a lot of pent-up demand in the market for prime motor finance. We’re hoping to help dealers unlock sales that might previously have been beyond their reach due to a lack of finance or due to delay in getting an indication of appetite from potential funders."
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By GlobalDataIn December 2013 Cabot Square acquired LDF from Investec; this year Cabot Square invested £25m in Henry Howard Finance.
