Forest Asset Finance acquired
Forest Asset Finance Ltd has been acquired by Asset Alliance Group, providers of commercial vehicle finance solutions and retailers of new and used trucks and trailers. The seven figure deal is expected to broaden Asset Alliance Group’s (AAG) portfolio and provide a strong foothold in the bus and coach sector. Integration within the Asset Alliance Group will provide Hampshire based Forest with the ability to fund customers on their own book, as well as continuing to offer extensive brokerage facilities. It will also provide the Forest team with the capital needed to further develop the business and realise its potential across the UK using AAG’s established office and depot network in Scotland and the Midlands. The group’s lending following its latest acquisition is expected to reach £85m.
Director at Forest Asset Finance, Michael Bycroft, said, ‘Our expertise in the bus and coach sector combined with the financial strength and extensive product offering of the Asset Alliance Group will cement our position as a leading player in the bus and coach sector. The markets we operate in are highly competitive and this deal gives us the scale and advantage to compete effectively and grow our business.’