THE Manx Financial Group PLC (MFG) has acquired ECF Asset Finance PLC (ECF) – an asset house located near Manchester which provides finance to UK based companies.

 
ECF was formed over 19 years ago and products include sale and leaseback, finance lease, hire purchase and commercial loans.

The company employs 16 staff and will continue to trade under the ECF Asset Finance brand from their current offices.

 
Gary Risdale, chief executive officer of ECF said: "This is another exciting chapter for both ECF staff and customers alike. This partnership brings together two independent well established brands within the asset finance market and provides an excellent platform for growth. 

"We remain committed to the asset finance market and look forward to working with our new colleagues at MFG in continuing to provide competitive products to businesses of all sizes."

The acquisition further expands MFG's suite of financial services businesses which already includes Conister Bank Limited, Conister Cards Services and the recently acquired Edgewater Associates – an Island based independent financial advisor.

Denham Eke, chief executive officer of MFG, said: "We are delighted to welcome the management and staff of ECF to the Manx Financial Group and look forward to developing a long fruitful working relationship together.  
 
"This is a real opportunity for MFG to further develop our presence within the UK at a crucial time when many of the established lenders are repositioning their business lending strategies.

"Small businesses are the back bone of any economy and together with ECF we are able to demonstrate our commitment and support to help these businesses meet their objectives."