The asset finance arm of UK bank Aldermore has
continued its part in the group’s aggressive expansion with the
purchase of a £11.5m leasing portfolio.
Aldermore acquire the book, described as
predominantly vehicular assets with a good spread of SME customer
risks, from Private & Commercial Finance Group.
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The deal is Aldermore’s second portfolio
purchase after it acquired £35m of assets from Heritable Asset
Finance shortly after the asset finance division was created in
February 2010. The total asset base of Aldermore Asset Finance now
stands at more than £240m.
George Ashworth, managing director of Asset
Finance at Aldermore, said he was delighted with the deal and
added: “The purchase of good quality leasing portfolios is an
important part of our growth plans and I am always interested in
talking to other leasing companies that may be considering a
portfolio sale.”
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