UK leasing broker WestWon has acquired the remaining lease portfolio of General Capital Finance, which went into administration in 2010.
The book, made up of contracts in the final payment stage of primary rental period, some agreements in a secondary period and the internal collections portfolio, has been sold to WestWon for an undisclosed sum, by the Grant Thornton administration team led by Tarun Mistry, head of Leasing and Consumer Finance advisory with the professional services firm.
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General Capital Finance, which specialised in asset finance, venture finance and property finance, went into administration in February 2010 after two years of difficult trading in the wake of the global financial crisis.
Jeremy Hall, chief executive of WestWon, said: "This purchase is part of our stated strategic plan to growing our business via acquisition and is one of a number of similar opportunities we are working on at the moment."
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