Maxxia UK, provider of enterprise-wide asset financing solutions, has acquired independent, privately-owned asset finance brokerage Capex Asset Finance.
Capex joins the group of companies owned by McMillan Shakespeare Limited (MSL), an Australian-listed company.
The deal forms part of the MSL growth strategy in the UK and follows the acquisition of CLM Fleet Management in 2013, Anglo Scottish Asset Finance in 2015 and, more recently, Eurodrive Motor Finance in late 2016.
Capex, which is based in offices in central Birmingham, has been trading since 2004 and is a specialist in the provision of a broad range of capital financing solutions for businesses of all sizes and types.
The company was formed by the existing directors – Julian Percival, Alan Hunt and Warren Badger. All three directors are active in the business today and will remain with the company.
Roger Skinner, CEO of Maxxia, 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.
“The acquisition will involve minimal disruption to the Capex business as all three directors will continue to work in and manage the business so that, from a customer viewpoint, it will be very much business as usual.”
Julian Percival, director at Capex Finance, added: “We are delighted to be joining the Maxxia group of companies at this stage in the development of our business, which is now well established in the asset finance arena.
“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. This is great news for our customers and creates significant growth opportunities for our business.”