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.”
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By GlobalDataThe 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.
