Durham-based company Anglo Scottish Asset Finance Ltd has announced the completion of a management buyout (MBO) to take back control of the business.

The investment is backed by a consortium of UK-based funders, the company’s original founding directors, wider management team, existing employees, and contractual agents.

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Founded in 2007, Anglo Scottish quickly established its name in the finance brokerage sector. In 2015, the company was acquired by McMillan Shakespeare Group, a publicly listed Australian company seeking an appropriate acquirer for its UK operations following a strategic view to exit the UK and focus on its core capabilities down under.

The MBO will result in an expansion of the business’s presence in the UK as Anglo Scottish aims to develop a new funding option for customers while establishing new partnerships, joint ventures and strengthening relationships with current funding partners. It plans to leverage new technologies and expand its capacity to secure new clients and support partner relationships in the industry. The funding raised will support these initiatives as the Anglo Scottish brand continues to develop.

Anglo Scottish has added three new divisions in the last year – Renewables, Agriculture and Ground Transport – to its existing structure, which already covers Vehicle Finance, Asset Finance, Commercial Finance and more.

The company has increased its headcount to 86, with newly employed staff based in Scotland, Merseyside, Yorkshire, London, and Devon, and has grown its network of tied agents to 68.

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Additionally, the company brokered over 12,900 deals in the financial year 2022/23, reaching a substantial milestone with over £519 million of brokered business within the year. During the MBO process, the company offered investment opportunities to all employed staff and agents, allowing all to benefit from the company’s success.