WestWon are pleased to announce the acquisition of Premier Finance and Leasing, their fifth leasing broker acquisition of 2020.
Bob Phipps founded Premier just under twenty years ago. Based out of Nottingham, the company mainly focuses on providing lease finance for SME companies across a range of equipment. The business has built a large contact base of end user customers and suppliers of capital equipment.
Bob will carry on with the business looking after a number of his key relationships as he slopes off into retirement.
Bob mentioned, “We have been working with WestWon since February 2012 so when we decided to retire – or semi-retire – WestWon was an obvious choice to sell to. Be it we have worked together with quite a few customers; we still have a database of over 5,000 contacts built up over the years. It’s great that these companies can still be serviced for all their asset finance and leasing needs.”
Jeremy Hall, WestWon CEO added, “This is a great deal all round, Bob can realise value in his business at a time when we still have Business Asset Disposal Relief (previously known as Entrepreneurs Relief.) He is keen to keep in contact with some long-standing relationships. We have structured an arrangement where he can do this and still be the face of Premier Finance and Leasing. Meanwhile, we can take care of the day to day operations and contact the many thousands of historic contacts he has created.”
Jeremy added, “2020 COVID-19 challenges has brought forward the retirement plans of a number of people in the leasing and asset finance sector. For others, it has been a time to reflect and plan for the post COVID-19 world where some individuals wish to focus on other ventures outside of leasing. We still have a month to go before we welcome in 2021 and am hoping to complete on at least one other acquisition / investment into another leasing company.”
For more information, please contact WestWon on 01494 611 456.