Ashcombe advises Newable on the acquisition of vehicle finance firm Synergy
Ashcombe is pleased to announce that it has advised Newable Limited (“Newable”) on the acquisition of a majority stake in Synergy Automotive Limited (“Synergy”). Ashcombe both introduced the opportunity to Newable, and advised on the investment.
Synergy is an FCA-authorised vehicle finance and credit broker based in Harrogate, North Yorkshire. The business has grown organically and profitably since its foundation in 2006. Founded and run by entrepreneur Paul Parkinson, Synergy is now one of the UK’s largest vehicle leasing brokers and employs a team of nearly 50 people.
Chris Manson, Newable CEO, said:
“Synergy is an exciting addition to our offering within our lending portfolio. Our close relationship with Ashcombe and their understanding of our strategy enabled them to identify this opportunity for us.”
In the past five years, Ashcombe has worked on more than 40 financial services transactions with a combined value of ~£6.5bn.