Investec acquires Alliance Equipment Finance
(9 July 2012 – Australia) Alliance Equipment Finance has been acquisitioned by specialist bank, Investec as it expands its asset finance and leasing business.
Investec Bank (Australia) Ltd will use the acquisition to significantly strengthen its capabilities and service offerings to existing clients and take advantage of the broadened portfolio of 12,000 new customers.
Privately-owned Alliance was founded in 1992 by Mr Pat MacMillan and Mr Peter MacMillan and is a specialist provider of vendor equipment finance programs to a broad range of Australian clients across SME, corporate and government sectors.
The business provides customised financing solutions for intermediaries and has well-established relationships with global manufacturers such as Konica Minolta, GBC / Neopost and Cisco.
Investec chief executive David Clarke said it is an important strategic step in the bank’s focus to grow the business and provide increased scale in the SME market.
'This acquisition also complements Investec’s well-established and successful operations in asset finance across South Africa and the UK, and holds enormous growth opportunities for us,' Clarke said.
Matthew Ingram, who heads the Asset Finance & Leasing business at Investec Australia, is also delighted to welcome the acquisition of Alliance.
"This is a great addition to our growing Asset Finance & Leasing business here in Australia.
'Our clients and partners will now be able to benefit from the enhanced product and service capabilities that come from our strong international balance sheet, competitive pricing, increased flexibility and the combined expertise of the two companies",' he said.
The 48 Alliance staff, working in Sydney, Melbourne, Brisbane, Adelaide and Perth, will transfer to Investec Australia and be fully integrated within the next couple of months.
Privately-owned Alliance was founded in 1992 by Mr Pat MacMillan and Mr Peter MacMillan and is a specialist provider of vendor equipment finance programs to a broad range of Australian clients across SME, corporate and government sectors.
The business provides customised financing solutions for intermediaries and has well-established relationships with global manufacturers such as Konica Minolta, GBC / Neopost and Cisco.
Investec chief executive David Clarke said it is an important strategic step in the bank’s focus to grow the business and provide increased scale in the SME market.
'This acquisition also complements Investec’s well-established and successful operations in asset finance across South Africa and the UK, and holds enormous growth opportunities for us,' Clarke said.
Matthew Ingram, who heads the Asset Finance & Leasing business at Investec Australia, is also delighted to welcome the acquisition of Alliance.
"This is a great addition to our growing Asset Finance & Leasing business here in Australia.
'Our clients and partners will now be able to benefit from the enhanced product and service capabilities that come from our strong international balance sheet, competitive pricing, increased flexibility and the combined expertise of the two companies",' he said.
The 48 Alliance staff, working in Sydney, Melbourne, Brisbane, Adelaide and Perth, will transfer to Investec Australia and be fully integrated within the next couple of months.
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