Credit solutions provider Capquest has expanded into the motor finance sector by purchasing the business operations of British Credit Trust (BCT).
The banking, finance and telecoms specialist will take on BCT’s brand, key employees, loan portfolio, data and systems, including more than 4,600 motor finance and home loan accounts with total balances of £10m.
Capquest CEO, Helen Ashton, said: “The motor finance sector is an attractive market. The experience and understanding we gain from this portfolio will enable us to respond to further opportunities in this sector, which is experiencing strong growth.
“BCT has a very strong heritage within this sector and the opportunity matched our ambitions. Customers with existing BCT accounts can be assured that we will strive to put them at the heart of our business.”
The transaction follows the launch of Capquest’s new brand identity in 2013 and the opening of new offices in Glasgow and Farnborough.