THE SALE of Asset Alliance Group to private and commercial bank Arbuthnot Latham & Co Ltd has been completed, following Financial Conduct Authority (FCA) approval.
CEO Willie Paterson said: “Joining forces with Arbuthnot Latham is a fantastic step for our group. The certainty in funding it provides gives us a strong foundation to meet our own growth targets and most importantly makes us more competitive for customers.
“While our funding source has now changed from a panel of five lenders to one single bank, the leadership team remains the same, and day-to-day operations and delivery will continue as before.”
Asset Alliance Group has five UK sites in Wolverhampton, Newmains, Manchester and Ringwood, plus its Hanbury Riverside operation in Ipswich. The business operates more than 4,500 commercial vehicles, including trucks, trailers, coaches and buses in the UK.
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