Manx Financial Group has acquired ECF Asset
Finance in a bid to expand on the UK mainland.
ECF Asset Finance, based in Manchester, will
continue to trade using its own brand and to focus sale and
leaseback, finance leases and commercial loans.
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Denham Eke, chief executive of Manx Financial
Group, based in Isle of Man, said: “This is a real opportunity for
MFG to further develop our presence within the UK at a crucial time
when many of the established lenders are repositioning their
business lending strategies. Small businesses are the backbone of
any economy and together with ECF we are able to demonstrate our
commitment and support to help these businesses meet their
objectives”.
Garry Ridsdale, chief executive of ECF Asset
Finance, who will continue to run the company, said: “We remain
committed to the asset finance market and look forward to working
with our new colleagues at MFG in continuing to provide competitive
products to businesses of all sizes.”
MFG’s financial services businesses include
Conister Bank, pre-paid card payment solutions provider Conister
Cards Services and recently acquired Edgewater Associates, a
financial advisor.
Conister earlier this year began
expansion into the mainland leasing market by hiring two broker managers, Neil
Landsborough and Mike Hirst, to develop relationships with leasing
brokers in the North West and South West regions respectively.
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