Leading UK asset finance company WestWon has acquired the residual lease portfolio of General Capital Finance.
Tarun Mistry, the head of leasing and consumer finance advisory services at Grant Thornton UK LLP, led the administration and sale, following the appointment of partners Malcolm Shierson and Daniel Smith as joint administrators of General Capital Finance in 2010.
Under the terms of the sale, WestWon has taken over a lease portfolio that comprises companies and individuals due to pay final instalments in their primary rental period, agreements in their secondary period and the internal collections portfolio.
“The purchase of General Capital Finance’s residual portfolio aligns perfectly with our current business model and our stated strategic goal of growing WestWon’s customer base, both organically and via targeted acquisitions,” commented WestWon CEO Jeremy Hall.
"WestWon has expanded its operations significantly over the past 12 months and General Capital Finance is the first of many similar opportunities currently under review.”
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