Anglo Scottish Asset Finance Completes Management Buyout

03rd January 2024

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We’re excited to announce the completion of a management buyout (MBO) of Anglo Scottish.

As you may be aware, Anglo Scottish was founded in 2007, by a group of experienced asset brokers, David Foster, Dean Cowley, Paul Sargent, and Murray Wark.  The business quickly established its name in the finance brokerage sector, growing to help SME’s access competitive asset finance solutions. Then in recent years, we expanded our offering to include commercial funding solutions and private vehicle finance solutions.

In 2015, the company was acquired by McMillan Shakespeare Group, a publicly listed Australian company.  Following a strategic view to exit the UK and focus on its core capabilities down under, the decision was taken by the Anglo team to move forward with an MBO.

The investment is backed by a consortium of UK-based funders, the company’s original founding directors, wider management team, existing employees, and contractual agents.

The MBO will expand the business’s presence in the UK as we look to develop new funding options for our customers, establish new partnerships, joint ventures, and strengthen relationships with current funding partners.

This announcement follows an incredibly successful year for the business. It saw us add three new divisions – Renewables, Agriculture, and Ground Transport, to supplement and strengthen our existing divisions.

We are also happy to announce we have increased our headcount to 86, with newly employed staff based in Scotland, Merseyside, Yorkshire, London, and Devon, and have grown our network of tied agents to 68.

Additionally, we brokered over 12,900 deals in the financial year 2022/23, reaching a substantial milestone with over £519 million of brokered business within the year.

During the MBO process, we extended the opportunity to invest to all employed staff and agents, allowing all to benefit from the company’s success.

Managing Director David Foster expressed his excitement for the future, stating that the MBO marks a “landmark moment” for Anglo Scottish and its leadership team. He commented: “With this continuing growth, we see a huge opportunity to develop a new way of doing business, offering a broker/funder hybrid service to our customers and bringing us closer to our industry partners.

“While the MBO gives us the financial strength to broaden our market and offering, we will maintain the identity and independent approach that our existing customers and partners have come to expect.

Commenting further David added: “We look forward to a promising future, anticipating continued growth and success for our management team, employees, and the businesses and individuals we serve.”

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