Cabot acquires Blue Motor Finance

Cabot has provided an equity investment as part of the transaction, and has secured a new £200m long-term funding facility. It is understood that financing was provided by Citibank.

The funding will be used to support the company in meeting customer demand, and speeding up the financing process.

Company
Blue Motor provides car finance through agreements with 15 dealer networks and brokers. The company offers new and used car finance for consumers with good credit.

Blue Motor uses a technology platform and processing system for assessing applications. This enables the company to provide approval for finance in less than one minute. Payments are made to the deal or broker on the same day.

The firm was founded in 2005 and is based in Warrington.

People
Bob Jones is executive chairman of Blue Motor. Tarun Sharma is investment director at Cabot.

Advisers
Equity - Herbert Smith (Legal); Grant Thornton (Financial due diligence).
Management - Gordons (Legal).

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