8th October 2018
Subject to regulatory approval by the FCA, which is expected shortly, PCF Bank will acquire 100% of the share capital of Azule Finance.
In a deal that was announced to the market this morning, Azule Limited are pleased to confirm that they will become a 100% owned subsidiary of PCF Bank Limited.
Peter Savage Azule CEO says “We are delighted to become part of larger group which will propel the business into the next phase of growth, it will be business as usual with enhanced capability and flexibility via access to PCF’s retail deposits. This will not only consolidate our position as Europe’s predominant supplier of Broadcast and Media Finance but enable us to improve our offering to the customers, dealers and manufacturers.”.
Azule Finance (www.azule.co.uk)
Established in 2004, are the largest specialist supplier of finance to the Broadcast, Television, AV, Sound and Lighting industries, transacting over £50 million a year across Europe with a team of 17 based in Datchet and subsidiary offices based in Germany and Ireland. Manufacturer programmes currently include the likes of Sony, Canon, Fuji, Digico, and Shure.
PCF Group PLC (www.pcf.bank)
Established in 1994, PCF Group is the AIM-quoted parent of specialist bank, PCF Bank Limited. Currently PCF Bank offers Consumer Finance to motor vehicle consumers and Business Finance for vehicles, plant and machinery to SME’s.