Logical Finance, a specialist provider of point-of-sale credit facilities to independent and niche retailers will be rebranded to trade as Omni Capital Retail Finance (OCRF).
OCRF will operate as a separate CPC Group business with its own management team, staff and IT platform but share group infrastructure services with the established, property-focused Omni Capital business.
Colin Sanders, will become chief executive officer for both Omni Capital brand businesses. Michael Bevan has been appointed managing director of OCRF and will be responsible for the day-to-day executive management of the new business and its seven employees.
Colin Sanders, Omni Capital group CEO, said: “It has long been our intention to expand the highly-successful Omni Capital brand into new financial services sectors.”
He continued: “While an exciting next step in our planned expansion, I want to assure our loyal brokers and distributors that the acquisition in no way alters Omni Capital’s commitment to short-term lending. It is this sector in which we have made our reputation and it remains our bedrock. Accordingly, it will continue to receive our full attention and significant future investment.”