Asset management firm Wesleyan Group has acquired IT leasing and asset finance firm Syscap.
UK-based Syscap, based in New Malden and Northwich, provides short term business loans focusing on IT leasing and asset finance.
Bryan Jackson Wesleyan chairman said: "This acquisition is a clear intent of our desire to increase the range of services available to our customers while building on our existing capabilities."
Syscap managing director Philip White said: "Syscap has always been committed to making decisions that will benefit both our customers and our business goals. This news means that the work we do in the professional and IT leasing space is now supported by Wesleyan’s strong list of personal and commercial finance services. We look forward to joining a group with a strong heritage and a keen eye for the future."
Syscap’s 69 staff will remain based in their current offices in New Malden and Northwich in the UK.
The move was facilitated by a fund advised by AnaCap Financial Partners, the private equity firm behind Aldermore Bank. AnaCap was advised by IMAS Corporate Finance with legal advice provided by CMS. Management was advised by Marriott Harrison.
The terms of the acquisition have not been disclosed.