Broker Kennet Equipment Leasing, itself recently bought by an investment fund backer, has acquired AH Corporate Finance (AH) in a move that will see the lessor expand its portfolio, particularly in the low carbon finance markets.
AH, who are based in Aylsebury, offered a number of leasing and other finance products to SMEs, which included: contract and vehicle hire, self-aid finance and operating leases.
The takeover will mean that the company can now offer its customers a range of new technology and financial products. Steve Swift, chairman of Kennet, said: "We are delighted with the obvious synergy and opportunities that the acquisition of AH Corporate has brought about. I’ve no doubt that this is the first of many successful acquisitions that Kennet will undertake over the next 12 months. I’m also pleased that Iain Crockatt of AH will remain close to the business for the foreseeable future."
AH Corporate Director Iain Crockatt said "I have built AH Corporate into a successful leasing brokerage, but am excited at the opportunity to diversify into other areas now that I have passed the mantel over to Kennet. I am confident that the portfolio we have built up over a number of years will flourish under the Kennet umbrella."
Kennet a former winner of the Leasing Life Broker of the Year award was acquired by Star Capital Partners for £100m (126.3m) in July.
Following the acquisition by STAR, Swift told Leasing Life in September that Kennet was "on the lookout" for brokers that did similar business to it.