Wilkes has advised Wesleyan, the mutual financial services specialist, on its acquisition of Syscap Holdings Ltd (“Syscap”), from a fund advised by AnaCap Financial Partners LLP. Syscap is the UK’s leading independent provider of short term business loans, IT leasing and asset finance.
This acquisition strengthens Wesleyan’s position in the short term loans market and extends its range of commercial services to include the provision of IT leasing and asset finance.
Craig Errington, Wesleyan’s Chief Executive said: “This is an exciting acquisition for us; Syscap is a strong, successful business that operates in professional markets very similar to our own. They also have the same strong focus on quality specialist service, based on a real understanding of their customers’ needs. There is a great synergy with the services we currently offer through Wesleyan Bank where we already have a successful short term loans business.”
Corporate partner Jeremy Parkin led a team of eight Wilkes lawyers, including Mike Linford and Rick Smyth (Corporate), Pam Sidhu and Lisa Outram (Employment) and Suzy Vercoe (Property). “We are delighted to have assisted Wesleyan on this transaction. It demonstrates our ability to service larger clients on significant corporate deals.” said Jeremy.
Wesleyan Bank Managing Director Steve Deutsch commented: “The acquisition of Syscap will strengthen Wesleyan’s position as a leading provider of short term loans for the legal market in particular. We were pleased to be advised by the legal team at Wilkes who were effective in supporting us and delivered against tight deadlines.”