Investec Asset Finance has sold its stake in broking subsidiary Leasedirect Finance (LDF) to a private equity company just under four years after buying into the firm.
The broker has been bought by Cabot Square Capital, a private equity and investment fund specialising in smaller and medium sized companies.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The sale, which completed at the end of November, was accompanied by the announcement of a £75m (90m) block discounting facility between Investec and LDF.
Investec originally purchased LDF in an effort to access to the professions market and Mike Francis, managing director of Investec Asset Finance, said the new discounting deal will continue this commitment.
Francis said: "Investec is pleased to be an on-going partner in LDF’s future and will continue to maintain its close relationship with the business and Cabot Square Capital LLP. The transaction provides Investec with an attractive return on its investment, enables it to remain an active funder in the Professions market and to direct resources to further new initiatives within UK asset finance."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
