Omni Capital Retail Finance, owned by real estate development and investment business, CPC Group, established by Christian Candy in 2004, is a retail point of sale (POS) finance business. Retail point of sale finance is used when consumers buy a product or service, such as a holiday, but choose to spread the cost of the purchase over months or years. The point of sale provider underwrites the risk on the spot and pays the retailer the full price for the transaction.
Castle Trust will receive capital injections from its principal shareholder J.C. Flowers & Co to support the acquisition and to enable the firm to drive significant further growth in Omni’s loan book.
Omni will be run as a distinct business unit within the Castle Trust Capital Group and comes with its own existing management team. The business will remain located in its existing site in Watford.
Matthew Wyles, a director of Castle Trust Capital (pictured), said: “Our entry into the POS market is a key strategic diversification which will make the group even stronger and more resilient. Castle Trust will operate in three distinct markets – specialist mortgages, development finance and point of sale.”
Fortwell Capital, formerly known as Omni Capital Partners, will remain with the CPC Group.
The acquisition is subject to the approval of the Financial Conduct Authority.
