Steve Swift, Chief Executive Officer of SAF said; “When we started this journey to build a formidable UK SME asset finance platform, our acquisitions were always going to be companies that would complement and strengthen our group. I’m delighted to welcome Credo to SAFL table; on the back of great customer service, the team has built the leading independent finance provider in its home market with significant further growth potential”.
The transaction will see Credo join forces with well-established asset finance companies Kennet Equipment Leasing, Ignition Credit PLC and First Capital Finance Limited. The group is set to generate over £200m annually in new business finance.
Simon Gray, Managing Director of Credo commented “Here at Credo, we are delighted to become part of the SAFL group. This move will allow us to continue supporting customers with our exemplary level of service while providing us with capital to further develop Credo as part of a dedicated ad fast-growing UK asset finance group.”
Paul Gough, Managing Partner at Star Capital, said: “We are pleased with the progress of our investment in SAFL and the acquisitions made to date. We look forward to working with the Credo team to continue building a leading asset finance company and remain interested in adding further attractive businesses to the SAFL group
