Bank of Ireland UK (BOIUK) has acquired Marshall Leasing from Marshall Motor Holdings for £42.5 million. On completion of the deal Marshall Leasing will become part of Northridge Finance, BOIUK’s car and asset finance business. The acquisition of Marshall Leasing is conditional upon Northridge Finance receiving regulatory approval.
Marshall Leasing has a fleet of more than 6,000 vehicles, was established in 1979 and provides a range of contract hire fleet services including fleet management, risk management, contract purchase and daily rental, aimed at the SME sector.
Northridge Finance provides personal and commercial asset finance serving the motor dealer, finance broker, and corporate markets, offering a range of vehicle related lending products and services.
Des Crowley, chief executive of Bank of Ireland UK, said that the proposed acquisition would help Northridge Finance “to continue to develop and diversify its business”.