All articles by Grant Collinson
Grant Collinson
Spar Nord sells leasing arm to rival Jyske
Spar Nord Bank has agreed the sale of the majority of its leasing business Finans Nord to fellow Danish bank Jyske Bank. As of 1 October 2011 Jyskes leasing business Jyske Finans will acquire Finans Nords fleet division, Easyfleet, and take over the forward looking activities of Finans Nord.
Aldermore secure £62m in additional investment
The two year-old Peterborough-based bank and lender will see further investment from its lead investor AnaCap and continued investment from Morgan Stanley Alternative Investment, both of whom were founding investors in the company. A consortium of global investors also contributed including funds managed by Goldman Sachs Asset Management, Honeywell Capital Management and the Ohio Public Employees Retirement System
UK SMEs show tentative signs of growth
The companys first Cash Flow Barometer, a new quarterly survey, shows the average turnover for small businesses increased by 16.2% between the end of 2009 and the second quarter of 2011.
SME lender Ultimate Finance doubles profit
Growth in asset finance business and the integration of Ashley Commercial Finance, following the acquisition in late 2010, have helped the company to a £904,000 profit for the year to 30 June 2011 up from £446,000 for the previous 12 months.
Potential $1bn sale of GE TIP trailer leasing
General Electric (GE) is considering the sale of its European trailer leasing arm GE TIP Trailer Services for $1bn (743m) according to reports. GE TIP, which offers European customers leasing, rental and maintenance products for trailers and tankers, is part of the Equipment Solutions division of the companys finance unit GE Capital. Two sources close to discussions said GE has hired Barclays to help manage the sale process and an auction may start in the next weeks according to a report in Bloomberg.
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Shire Leasing and BT team up for lease deal
BT Business and Shire Leasing have formed a partnership to offer start-up businesses finance on telecommunications equipment and technology. The KickStart scheme, available through the telecoms companys regional business arm BT Local Business, will offer businesses operating for three years or less a lease option for up to £15,000-worth of telecommunications equipment. Shire Leasing will provide the finance for the deals written under the scheme which BT said is designed to help small businesses raise funds in a challenging economic climate and to avoid having to rely on bank loans, overdrafts or credit cards
UK media broker in pioneering German venture
The deal is an extension of the existing arrangement between the companies in the UK, in which the Berkshire-based company acts as one Sonys vendor finance partners.
Rolling stock may be in for a signal change
Barely a week goes by in the British press without a news story involving the UKs beloved and beleaguered railways. While passengers appear to be plagued by ticket price increases and delays caused by falling foliage, the rolling stock leasing industry is seen as less turbulent.
Leasedrive hook Salmon as sales manager
Salmon joins Leasedrive after eight years at Inchcape Fleet Solutions where he held various positions in sales, most recently head of sales and account management. Paul Fleming, sales and marketing director at Leasedrive, said Salmons experience was a welcome addition to the Leasedrive team as the company continues to grow following the acquisition Masterlease last year, a move which Leasedrive predicted will double its turnover.
Angel preferred bidder for London Midland
UK rolling stock company Angel Trains has been confirmed by London Midland as the preferred bidder for the purchase of new trains. The deal will see Angel Trains procure and finance approximately 72 Class 350 Desiro vehicles from manufacturer Siemens and lease the vehicles to both London Midland and First TransPennine Express. London Midland will initially lease the vehicles and transfer around 40 of the electric multiple units (EMU) to First TransPennine Express for use on the Manchester to Scotland line.