Pictured above: Phil Reynolds (centre), managing director, Newable Lending, with the Synergy leadership team. Left to right: Will Voisey, general sales manager; Jean-Paul Levahn, IT & technical director; Gemma Manning, client services director; Nicola Ech-Channa, marketing & communications director.
NEWABLE has completed the acquisition of Harrogate broker Synergy Car Leasing.
Newable – which provides money and advice to SMEs – took a majority stake in Synergy in 2020, and has now purchased all the equity using a significant funding package from ThinCats, an alternative finance provider to mid-sized SMEs.
Established in 2006, Synergy Car Leasing has an enviable record in customer service, having achieved four successive years of Feefo Platinum Trusted Service Awards, as well as winning the Best Customer Service Award at the Broker News awards.
Synergy will now be guided by Newable in its next phase of growth. Newable says it will continue to focus on the SME sector for the implementation of salary sacrifice schemes, grow its emerging small to medium size fleet management business and continue to be a customer champion in the leasing space.
Paul Parkinson who founded the business, will continue as executive chairman.
We are pleased to have completed this acquisition and are now looking forward to the next phase of growth for Synergy Car Leasing, building on an exceptional, customer-first track record built over the past 17 years.
The UK automotive leasing market continues to grow at pace, driven by an increased desire for flexibility from both personal and business customers, with the rise of hybrid and electric vehicles also playing a key role in creating a wealth of new opportunities.
Ben Kimball, director business development at ThinCats added:
“We are excited to be supporting an ambitious business on a strong upwards trajectory. They have remained agile and responsive to changing market demands, which is testament to the quality of the whole team, and we look forward to seeing them continue to go from strength to strength.”
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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.
