Scottish Pacific finalised its acquisition of Bibby Financial Services on 31 December 2015, with the combined business now employing almost 300 staff, handling approximately USD 10 billion of annual sales and providing some USD 700 million of funding to clients.
Speaking to The Adviser, Scottish Pacific CEO Peter Langham said he expects the deal will enable the group to offer an even wider range of products, services and solutions to brokers’ clients.
Scottish Pacific is the only non-bank approved by the Export Finance and Insurance Corporation (Efic), the Federal Governments export credit agency, which helps fund SME exporters, and has a strong trade finance division as well as a selective invoice finance offering.
Bibby has recently expanded beyond debtor finance into credit insurance, asset finance, and a collections business as well as progress claim finance.
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