Leasing World Jan Szmigin’s monthly review
Exclusive benefits with Syscap
Syscap, a leading independent finance provider, has boosted its offering to the professional services sector with the acquisition of Exclusive Benefits Ltd, a specialist commercial finance provider. The acquisition is limited to the trading rights, client base and future income streams of Exclusive Benefits. Other assets belonging to Exclusive Benefits Ltd will continue to trade separately. Syscap says that Exclusive Benefits’ strong links with professional bodies such as the Law Society, combined with Syscap’s own substantial expertise and track record providing financing solutions to the professions, will create a new and enhanced service to the sector.
Exclusive Benefits, who also trade as EB Commercial Finance, have over 10 years’ experience in providing financing solutions across the legal, medical and professional services sectors. Exclusive Benefits have used affinity groups through which to offer personal finance, and it is thought to have one with the Law Society that includes covering the spreading of the cost of lawyers’ annual practising certificates. A look at their website shows a calculator that divides the cost of a practising certificate over 10 monthly payments, with an APR of 15.4%. Philip White, chief executive officer at Syscap said: “The combined offering that Syscap and Exclusive Benefits will be able to provide to the professional services sector will make us a market leader. This is a really exciting development for professional services companies seeking affordable financing solutions. The marriage of Syscap’s hugely successful professions team, with
Exclusive Benefits’ excellent ties with professional bodies is going to create a formidable finance provider.”
Neil Burrows and Mark Gazzard, directors at Exclusive Benefits, said: “We believe this really is a win-win situation for professional services companies across the UK. We are thrilled to be joining Syscap, and are looking forward to pooling our knowledge and expertise with theirs to create something new and exciting for professional services companies.” Syscap explains that the acquisition of Exclusive Benefits is a significant step in their aim to become the market leading finance provider to the professions sector. In a month’s time Syscap’s professions funding team will be moving to brand new offices, three times the size of their current headquarters. Philip feels that this move is a clear statement of its intent to be number one in the professions sector. Syscap’s professions business is thought to account for an increasing share of Syscap’s total business, and an important element to help bring the company back to profitability. Their results for the year to March 2010 showed a diminished
pre tax loss of £801,406 (2009 – £1,227,963), on similar new business volumes to the previous period, thanks to restructuring and reductions in staff. The ultimate controlling party is Anacap Financial Partners, which continued to show support with an injection of £3m in April, 2010, and a letter of comfort issued to Syscap Holdings Group for continued financial support. A change of auditors from KPMG to PwC was also recorded.
Boobyer, Hughes and Frost join SHF board
St Helen’s Finance (SHF) has appointed Chris Boobyer non- executive deputy chairman, Michael Hughes as chief operations director, and James Frost as finance director.
At the same time a new directors and staff share option scheme now offers up to 33,050,000 options, half at an exercise price of 8.5p and the rest at 13p. The exercise period of these options is 10 years from October 2011 to September 2021.
66 November/December 2010
Details are revealed of the new appointees’ current directorships and partnerships. Chris lists Invigors LLP and SHF Asset Management LLP.
Michael lists Universal Asset Trading Ltd, Universal Leasing
Ltd, ULL Holdings Ltd, Hanover Merchant Finance Ltd, Hanover Financial Group Ltd, Hanover Asset Finance Ltd, Admiral Hire Ltd, Education Rentals Ltd and Equipment Hire Ltd. James lists Universal Leasing Ltd and ULL Holdings Ltd.
Business Money
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104