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Aldermore acquires portfolio of leasing receivables from PCF

POSTED: 12th March 2012
IN: Newsroom
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New British bank Aldermore has today completed the purchase a portfolio of leasing receivables from Private & Commercial Finance Group (PCFG).

The deal is for leases with a book value of £11.5 million and the portfolio is predominantly vehicular assets and is a good spread of SME customer risks. This is Aldermore's second purchase of a leasing portfolio, following the acquisition of £35 million of assets from Heritable Asset Finance in March 2010. This deal confirms Aldermore's commitment to supporting UK SME's and its continuing growth ambition.

George Ashworth, Managing Director of Asset Finance at Aldermore, said: "We're delighted to have concluded this deal, which will result in the total asset base of Aldermore Asset Finance increasing to over £240 million. The purchase of good quality leasing portfolios is an important part of our growth plans and I am always interested in talking to other leasing companies that may be considering a portfolio sale."

Aldermore Asset Finance, which was voted 'Independent Lessor of the year', markets a wide range of finance facilities designed to help small and medium sized businesses acquire assets from plant and machinery to computers and cars.

Further information about the services available from Aldermore Asset Finance can be found at www.aldermore.co.uk.

**Ends**

For further information journalists can contact:

Josh Cooper, PR consultant Office: 01654 791385

josh@cooper-consultants.co.uk Mobile: 07768 355265

For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.

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