Asset Alliance acquires Forest Asset Finance

Asset Alliance acquires Forest Asset Finance

Asset Alliance Group (AAG) has completed the acquisition of Hampshire-based Forest Asset Finance in a seven-figure deal.

AAG, a leading provider of commercial vehicle finance solutions and retailers of new and used trucks and trailers, is headquartered in Wolverhampton and has an office in Lanarkshire.

Launched by entrepreneur Willie Paterson in the middle of the great recession, the company now employs over 80 members of staff.

This latest acquisition means the firm has increased its share of the UK commercial vehicle finance, contract hire and vehicle sales markets year-on-year, and the group’s lending is expected to reach £85m.

CEO Willie Paterson said: “Forest Asset Finance is an established brand in the bus and coach sector whom we have known for a long time and they have a very loyal customer base. 

“The two businesses share many similar characteristics both in terms of product set and customer service ethos. 

“By pooling these strengths our customers will continue to see the bespoke service they have become accustomed to whilst also benefitting from a wider range of services through a single access point. 

“It’s a partnership that will benefit everyone involved.”

The group is gearing up for further growth in 2016, both organically and through further targeted acquisitions.