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STAR Asset Finance continues its consolidation of the SME asset finance market completing the acquisition of First Capital Finance Limited

11 January 2016

STAR Capital Partners (“STAR”), a leading European fund manager, announces today that its portfolio company, STAR Asset Finance Limited (“STAR Asset Finance” or the “Group”), has acquired First Capital Finance Limited (“First Capital” or the “Company”). First Capital represents the fourth acquisition by STAR Asset Finance since its inception in July 2014.

Founded in 2001, First Capital has successfully established itself as one of the leading independent providers of asset and vehicle finance in the South of England focusing on businesses and schools. One of First Capital's advantages is that it has the ability to act as a principal lender whilst having long-standing relationships with a large number of panel funders. This allows the Company to provide a wide range of competitive financing packages to its customers. Individual financings range from £1,000 to £1 million per transaction.

The Company will continue to be lead by its experienced management team consisting of Richard Perry, David Mogg and Darren Venton. Richard and David founded First Capital in 2001 with Darren joining them in 2003. As part of the transaction, Richard, David and Darren will become investors in STAR Asset Finance.

Richard Perry, Joint Managing Director of First Capital, said:

“When looking for a partner to support the further development of First Capital, we focused on personal and strategic fit. We are pleased to join STAR Asset Finance which pursues a hybrid strategy of being a principal lender and a broker – just like First Capital. The opportunity to reinvest in the parent company was very attractive to us.”