Investec Asset Finance has acquired Mann Island Finance as part of its strategy to develop its asset finance offering and activities.
Jo Jenner, managing director of Investec’s vehicle financing division, said: “The acquisition of an established player in the vehicle finance market with a reputation for high integrity and the opportunity to continue working with the existing senior management team at Mann Island represents an excellent opportunity to develop the business as a key part of the wider Investec Asset Finance Group.”
John Hughes, director at Mann Island said: “We’ve known the Investec team for quite some time and have developed strong existing relationships particularly in the commercial vehicle market for LCVs and HGVs which we will now look to develop.
"At the same time, we will also continue to evolve our highly successful finance brokering business which has been the foundation of our success for so many years.
“There is a great cultural fit between our organisations and we are both excited and delighted to have Investec as our new shareholders.
"An evolving regulatory environment now overseen by the FCA requires ever more professional and well managed customer focused businesses and, being part of an organisation like Investec, will assist us in delivering that together with best in class customer service."