UK-based IT finance provider Syscap has
acquired the trading rights, client base and future income streams
of specialist commercial funder Exclusive Benefits.
Syscap CEO Philip White said: “We were
like-minded in terms of approach, ethos and integrity and
synergistic in terms of the market served.
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“Our services were complementary, not
conflicting. It’s a really good fit.”
Exclusive Benefits, which also trades as EB
Commercial Finance, was established about 15 years ago and provides
funding almost exclusively to the professions sector. Syscap also
has a presence in this sector.
EB’s offering includes leasing, commercial
finance and practising certificates endorsed by the Law
Society.
White added: “The key thing is that 99% of
EB’s business is in the professions market, so like us, they’re
specialist, not generalist.”
The acquisition is part of Syscap’s aim to
become “the market leading finance provider to the professions
sector”. In a month’s time, its professions funding team will also
move to new offices.
Other assets belonging to Exclusive Benefits
Ltd will continue to trade separately.
