Syscap, the UK’s leading independent finance provider, is delighted to announce its acquisition by mutual financial services specialist Wesleyan. This agreement builds on Wesleyan’s expansion plans by bringing Syscap’s expertise IT leasing and asset finance to the company’s formidable portfolio of financial products.
Commenting on the newly announced deal, Syscap Managing Director at the time Philip White said:
“Syscap has always been committed to making decisions that will benefit both our customers and our business goals. This news means that the work we do in the professional and IT leasing space is now supported by Wesleyan’s strong list of personal and commercial finance services. We look forward to joining a group with a strong heritage and a keen eye for the future.”
The announcement follows Syscap’s recent commitment to the IT channel and comes in the lead up to the company’s 25th birthday.
Wesleyan’s Chief Executive, Craig Errington comments: “This is an exciting acquisition for us; Syscap is a strong, successful business that operates in professional markets very similar to our own. They also have the same strong focus on quality specialist service, based on a real understanding of their customers’ needs.”
Bryan Jackson CBE, Wesleyan Chairman adds: “This acquisition is a clear intent of our desire to increase the range of services available to our customers while building on our existing capabilities.”
Syscap’s 69 staff will remain based in their current offices in New Malden and Northwich.
The move was facilitated by a fund advised by AnaCap Financial Partners LLP. AnaCap was advised by IMAS Corporate Finance with legal advice provided by CMS. Management was advised by Marriott Harrison.
Wesleyan was advised by Deloitte’s dedicated regional financial services team who provided lead advisory, transaction due diligence and structuring advice. The Deloitte teams were led by Darren Boocock, Simon Thompson, Richard Monahan and Peter Croom. Legal advice was provided by The Wilkes Partnership, led by Jeremy Parkin.