Asset finance provider Maxxia UK has acquired Capex Asset Finance, as the latest part of parent company McMillan Shakespeare’s bid to expand its UK presence.

The Capex deal follows earlier purchases by the Australian parent company, such as the Eurodrive acquisition in December 2016, and Anglo Scottish Asset Finance in 2015.

Birmingham-based Capex began trading in 2004, and offers asset finance for businesses of a variety of sizes.

Roger Skinner, chief executive officer at Maxxia UK, said: “Capex is a perfect fit with our business and continues our targeted growth plans in the asset finance sector, as well as improving our geographical coverage of the UK.

“The Capex directors have extensive and detailed knowledge of the asset finance market and will bring significant attributes to the Maxxia Group, as well as contributing substantially to our position as a trusted partner for asset financing.”

Maxxia UK stated that co-founders and existing directors, Julian Percival, Alan Hunt, and Warren Badger will remain with Capex, with Skinner promising “minimal disruption.”

Julian Percival, director at Capex, said: “We are delighted to be joining the Maxxia group of companies. The Maxxia Group has scale and resource, together with access to a breadth and depth of funders and financial products, that will allow us to strengthen our offering in a number of key areas.”