24 November 2017
Bank of Ireland UK is pleased to confirm the completion today of its acquisition of Marshall Leasing Limited, from Marshall Motor Holdings Plc.
The acquisition was announced on 21 September 2017 and was conditional upon Northridge Finance receiving regulatory approval which has now been received.
Marshall Leasing will become part of Northridge Finance, Bank of Ireland UK’s car and asset finance business.
Northridge Finance is Bank of Ireland UK’s car and asset finance business operating across the UK market. It provides personal and commercial asset finance serving the Motor Dealer, Finance Broker, and Corporate markets, offering a comprehensive range of vehicle related lending products and services. The business has won three prestigious industry awards over the past three years, most recently being voted the Best Independent Bank owned Lender at the Car Finance Awards in June 2017.
Marshall Leasing is an established Contract Hire and Fleet Management business, serving a wide range of Corporate clients. It has a funded fleet exceeding 6,500 vehicles, and has a successful track record, based firmly on a dedication to offering excellence in customer service. This has been recognised with a series of award wins over recent years. Most recently, the Association of Car Fleet Operators awarded Marshall Leasing the Fleet Leasing Company of the Year for 2017.
James McGee, Managing Director, Northridge Finance commented:
“Northridge Finance and Marshall Leasing share a customer centric ethos focused on delivering great service and developing long term relationships. It’s the perfect partnership and together I look forward to delivering real valued added service and products to our customers and our intermediary partners. I am looking forward to working with the Marshall Leasing management team in expanding the business and also to develop our trading relationship with Marshall Motor Holdings Plc.”
Peter Cakebread, Managing Director, Marshal Leasing Limited commented:
“Marshall Leasing has enjoyed excellent growth and success over recent years with our focus on customer service. I am very excited about the opportunity to continue and accelerate this expansion in partnership with Northridge Finance and the wider Bank of Ireland UK business. There can be no doubt that this move creates a fantastic opportunity for the business to fulfil its true potential over the coming years, and to continue to offer best in class leading service to our widening client base.”
For further information please contact:
Bank of Ireland UK:
Sara Holland, Head of UK Communications Tel: +44 78 3171 8436
Notes to editors
About Bank of Ireland UK
- Bank of Ireland primarily operates in the UK through its wholly owned and separately incorporated subsidiary, Bank of Ireland (UK) plc, which is authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
- A substantial UK consumer banking franchise supporting over 3 million UK consumers, Bank of Ireland UK comprises:
- A longstanding financial services partnership and foreign exchange joint venture (FRES) with the Post Office, together with c.2,500 free-to-use BOI/Post Office ATMs, one of the largest ATM fleets in the UK.
- A long term partnership with the AA, which brings a product portfolio of credit cards, personal loans, savings and mortgages to nearly 4 million AA members.
- A successful UK mortgage business.
- A highly regarded UK car and asset finance business, Northridge Finance.
A full service retail and commercial bank in Northern Ireland.