By Daniel Lanyon on 3rd October 2016
A leading SME finance provider has announced its acquisition of asset finance firm ACF.
LDF, one of the UK’s largest independent provider of finance to SME businesses has acquired the business and assets of Southampton-based Asset & Corporate Finance (ACF) which lends against equipment largely in the construction industry.
LDF has bought ACF, which provides asset finance in the construction industry providing specialist hard asset loans to enhance its offering to small to medium sized businesses across the UK, a spokesman for the firm said.
Working predominantly in the construction sector, ACF will operate as a hybrid, funding and broking deals, and will have the ability to offer LDF’s range of loan products in addition to asset finance. LDF will now employ over 180 staff members across its three businesses.
Peter Alderson, managing director at LDF said: “The acquisition of ACF is a significant milestone for LDF, enabling us to achieve our growth objectives by providing us with a base to strengthen our offer in the South.”
“ACF have built an exceptional business through customer service, which mirrors the LDF model and brand perfectly. I am excited to welcome them on board and expand their breadth of clients and product range.”
Gary Cassell of Asset & Corporate Finance said: “We are very excited to join the progressive LDF Group and are confident that our excellent relationships and understanding of existing customers and funders will create a brilliant partnership.
“We see this as a major progression for our business, enabling us to significantly enhance our product range and offer an even better service to both new and existing customers.”