Capex Asset Finance acquisition assists with Maxxia’s continued UK growth
The sale of Midlands-based Capex Asset Finance Ltd is the second such transaction in as many months to be completed by Square One Law to asset finance specialist Maxxia UK on behalf of the sellers.
Maxxia is part of McMillan Shakespeare Limited (MMS), an Australian-listed company that is delivering on its growth strategy in the UK.
Capex, which is based in Central Birmingham, is a specialist in the provision of a broad range of capital financing solutions for businesses.
It has been trading since 2004 and was formed by directors Julian Percival, Alan Hunt and Warren Badger, all of whom will remain with the company following its acquisition.
Julian Percival, Director at Capex, 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.
“We appointed Square One Law after receiving recommendations from others in the sector and are very pleased with the professional and diligent advice its team provided in order to achieve a great transaction outcome for all parties. The support we were given was of the highest quality and they worked incredibly hard within the timescale, particularly over the Christmas period, to complete the transaction.”
Square One Law’s team comprised corporate partner, John Hammill, corporate partner and head of banking, Mark Lazenby and trainee Philip Stewart.
John Hammill, said: “Our strong track-record of supporting owners of asset finance brokerages to sell their companies led to us being instructed and we were pleased to work again with Maxxia and its advisors to deliver the deal on time. The synergies between Maxxia and Capex are very strong, and I expect both businesses and their customers will significantly benefit from the transaction.”
Roger Skinner, CEO 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 helping us improve 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 significantly 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.”