- Pictured left to right: Sue Chapman, Dave Chapman of MAF, with Ric Traynor, executive chairman Begbies Traynor Group
MAF Leasing, a BVRLA leasing broker based in Derbyshire, is now part of Begbies Traynor Group after directors Dave and Sue Chapman sold the MAF Finance Group – an asset finance broker formerly known as Midlands Asset Finance – to the business recovery and financial advisory company.
The directors said that the MAF brand would continue to trade as a ringfenced broker, including MAF Leasing, but with the backing of a wider group and a national office network.
The deal was valued at up to £11.7m.
A statement from the directors read:
“Since establishing the business in 2009, our objective has been to put our clients at the heart of everything we do, to add real value to support their growth aspirations and to deliver the very highest level of service.
“Creating the right working environment was crucial to how we performed both individually and as a team. Integral to this was our talent development programme and a recognition and collaborative culture which has enabled our team to thrive and feel fulfilled.
“We recognised that Begbies Traynor Group had the same approach and that there were a number of synergies between our respective businesses which would allow us to accelerate our own personal growth aspirations.”
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.