Shawbrook to acquire JBR Auto Holdings

by:
  • 17/06/2024
  • 0
Shawbrook to acquire JBR Auto Holdings
Shawbrook Group has signed an agreement to purchase UK specialist motor finance lender JBR Auto Holdings.

The agreement is subject to the satisfaction of certain conditions being met and, if agreed, completion is expected in Q3 this year. 

JBR offers finance for high-end luxury and supercars, with loan sizes starting from £50,000 up to £750,000. 

The acquisition will broaden Shawbrook’s offering within the regulated motor finance sector and strengthen its commitment to provide finance to people in clearly defined markets. 

Shawbrook entered the motor finance market last year through a platform lending arrangement with Blue Motor Finance. 

Marcelino Castrillo, chief executive at Shawbrook, said: “JBR’s extensive knowledge of this specialist segment within the wider motor finance market is exceptional.

“Aligning the business to Shawbrook’s ‘best of both’ approach, combining technology with deep human expertise, this acquisition will help us to extend the JBR proposition to more customers who value a premium experience, flexibility, and certainty when securing finance for their high-end vehicles.” 

Darren Selig, founder and chief commercial officer at JBR, said: “We are excited for JBR to be joining Shawbrook, where we can leverage its established platform and resources to further enhance our customer proposition and serve more customers in our segment of the market.

“It allows us to combine JBR’s specialist expertise with Shawbrook’s broader capabilities, creating a truly unique offering for our clients in the high-end motor finance market.” 

In Q1, Shawbrook Group reported a 15% rise in its loan book to £13.8bn.

There are 0 Comment(s)

Leave a Reply

You may also be interested in