Macquarie Corporate and Asset Finance (Macquarie) – the specialist asset finance division of Macquarie Group – has announced an initial £1.2 million equity investment in the UK vehicle leasing business XL Group. The company specialises in the short-term contract hire of executive cars and supercars to both corporate and private clients.
Macquarie will partner with XL’s management team to expand existing operations, not only through the equity investment but with an initial £10 million operating lease facility which may be extended to facilitate the anticipated growth of the business.
Martin Walker, XL’s founder commented: “This deal is a milestone in the company’s evolution and I am delighted to have such a global financial powerhouse on board to fulfil our vision for this business”.
Steve Hampson, Chairman of XL, said: “This investment presents an exciting opportunity for XL to expand and fortify its position as market leader in this specialist market place. We are looking to secure additional avenues into market in early 2019 and aiming to bring the numbers of cars on lease to over 5,000 in the shortest timeframe possible. Our vastly experienced team working together with Macquarie, who bring with it over 20 years of global experience in vehicle finance and an ability to understand customer behaviour and market demands, will enable XL to further accelerate our plans for growth, both within the UK and internationally”.