Consolidation hits premium finance market
Close Premium Finance (CPF) has announced the acquisition of Amber Select, the premium finance company known as Amber Credit and previously owned by Skipton Building Society.
The deal, effective 26 March, involves CPF’s parent, Close Brothers, purchasing 100% of the issued share capital of the company for £2 million.
Bob Golden, CPF’s CEO, commented: “This acquisition is excellent news both for Close and for Amber Credit’s existing brokers. What CPF is able to offer Amber Credit brokers is certainty of funding during a difficult period in the markets and access to systems, products and services unsurpassed in the industry.
“The deal brings to CPF an excellent quality
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