Acquisition

RNS Number : 9415Z

S & U PLC

13 February 2014

 

13 February 2014

S&U PLC ("S&U")

Acquisition

S&U, the main market listed home credit and motor finance lender, announces that on 10 February 2014 its northern home credit subsidiary, SD Taylor Limited, has acquired the home credit business of Ambassador Financial Services Ltd with gross assets at date of acquisition of approximately £0.5m. The acquisition has been financed out of S&U's existing cash facilities. S&U continues to seek home credit acquisitions in line with its strategy of investing in organic growth and careful acquisitions.

Mike Thompson, SD Taylor Managing Director, said:

"We continue to expand our home credit operations through acquisition and organic growth. Ambassador Financial Services Ltd is an excellent quality business, which will complement our existing growth in the central belt of Scotland".

For further information, please contact:

S&U plc                                                                 www.suplc.co.uk

Anthony Coombs, Chairman                       0121 705 7777

Arden Partners plc

Adrian Trimmings                                            020 7614 5917

Smithfield

Will Swan                                                            020 7360 4900   

 

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