Manx Financial Group-owned Bluestar Leasing has agreed a leasing partnership with UK drone distributor Uplift Drones, funded by Manx subsidiary Conister Bank.
Uplift Drones, whose clients include the NHS, Intel, broadcasters ITV and Sky, and the Metropolitan Borough of Tameside, intends to grow its corporate customers base off the back of the leasing offering, as well as expanding its unmanned aerial vehicle (UAV) range.
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The company, founded in 2016, also provides drone equipment and training.
Broker Bluestar Leasing – a trading name of Blue Star Business Solutions – was acquired by the Isle of Man’s Manx Financial Group (MFG) in March for £4m (€4.5m).
MFG said the acquisition was meant to boost asset finance business for MFG subsidiary Conister Bank, which would fund the majority of deals brokered through Bluestar. Bluestar confirmed to Leasing Life that was the case for the Uplift deal.
MFG group finance director Grant said in March: “The asset-backed finance market in the UK recorded its seventh year of successive growth last year, led by the broker finance market, which grew 14% year on year.
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By GlobalData“This is a market Conister Bank is active within, and [where it] indeed wrote more than £16 million of business last year.”
