Maxxia UK has acquired asset finance brokers Anglo Scottish.
The broker will join the group of companies owned by McMillan Shakespeare Limited (MSL), an Australian listed company.
The deal forms part of MSL’s growth strategy in the UK, amid a boom in the country’s alternative finance market which is expected to hit £5 billion in November.
It follows the acquisition of CLM Fleet Management in 2013.
Anglo Scottish directors and senior management team will continue to run and manage the business.
MSL said that, from a client experience perspective, there will be little change.
Roger Skinner, CEO of Maxxia, said: “Anglo Scottish is a perfect addition to our business at this very exciting juncture in our growth plans.
"Our core mission is to provide our clients with the very best possible asset financing solution tailored to their business, whatever their needs.
"The Anglo Scottish team has deep market knowledge and an established network across the UK asset finance ecosystem that will bolster our ability to do exactly this, underlining our position as the trusted partner for asset financing.”
David Foster, managing director at Anglo Scottish, added: “We are delighted to be joining Maxxia.
"Its strong focus on transparency and integrity, coupled with its impressive resources, makes it an ideal fit for us as we look to invest and expand our unique offering to our agents and customers.
“We see this as an excellent opportunity for our sales staff, agents and funding partners as we plan to increase volume considerably.”