JBR Capital, the UK’s only independent finance provider dedicated solely to high end vehicle finance, has agreed a committed warehouse facility with a major international bank for £60 million.
It follows on from the acquisition of JBR Capital by an affiliate of Cabot Square Capital, the specialist finance services private equity investor (January 2015).
JBR Capital offers bespoke specialist finance for modern day cars, supercars, classic and historic cars to private individuals and businesses and offers Hire Purchase and Lease Purchase loans ranging from £25,000 to £1 million.
Its Chief Executive Officer, Darren Selig, said: “We have been successfully funding loans to our customers for the purchase of high end vehicles since January. Having this additional funding line at this stage of our growth plans is testament to their belief in the market and our management team. ‘’
JBR Capital co-founder and Chief Financial Officer, Shalom Benaim, said: “This facility is for a period of up two years and has been structured through a special purpose financing conduit. The commitment will further enhance our rollout plan throughout 2015 and we look forward to successfully deploying these funds”
JBR has recently strengthened its management team with the hiring of Bryan Marcus (formerly of VW Financial Services) as its Chairman and Stephen Halstead (from private equity backed Metaswitch) as its Chief Operating Officer.
The company currently operates from its offices in Hampstead, North London.
JBR Capital was advised by Herbert Smith Freehills.