McMillan Shakespeare Ltd’s Maxxia UK operation has added Midlands-based Capex Asset Finance Ltd finance broker to its growing portfolio of companies.
Maxxia, provider of enterprise-wide asset financing solutions, added Capex to the group of companies owned by MSL as part of the Australian-listed company’s growth strategy in the UK.
The move follows the acquisition of CLM Fleet Management in 2013, Anglo Scottish Asset Finance in 2015 and, Eurodrive Motor Finance in late 2016.
Roger Skinner, chief executive 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.”
Capex was formed by the existing directors – Julian Percival, Alan Hunt and Warren Badger – and is based in offices in Central Birmingham.
A specialist in the provision of a broad range of capital financing solutions for businesses of all sizes and types, the business has been trading since 2004.
Julian Percival, director at Capex Finance, said: “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.”