£25m stake drives Asset Alliance

COMMERCIAL transport specialist Asset Alliance has sold a majority stake to private equity group Cabot Square Capital for £25 million

The business, set up in Lanarkshire in 2010, provides finance and contract hire of large haulage vehicles to the logistics industry. Clients include B&M, DHL and Next.

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Founder and managing director Willie Paterson, a former asset finance director at Alliance & Leicester, will now push to expand his client base as Asset Alliance invests in additional vans, trucks and trailers, while also making more funds available for finance deals. This is expected to lead to a steady rise in turnover, which this year is projected to reach £15m.

Alliance currently has ten staff but expects to grow to 50 workers within two years.