30 November 06
Merchant House Group plc, the AIM-quoted corporate finance and financial services group, has moved into leasing finance through a joint venture with Industrial Investment Group Ltd (IIG), an established leasing and asset-finance business.
The target market will be small and medium sized enterprises requiring asset based financing with a deal size between £30,000 and £30 million. This move is in line with MHG’s strategic objective of providing a broadening range of integrated corporate financial services for its growing client base.
The new joint venture will be called Merchant House Finance, and will provide asset and leasing finance service. MHG will hold an initial 49% stake, but has the right to increase its stake to 75% in two years’ time, dependant upon financial performance. IIG holds the balancing 51%.
For further information contact:
Peter Redmond, CEO, Merchant House Group plc: 020 7332 2200
Allan Piper, First City Financial Public Relations: 020 7436 7486