BAY OF PLENTY BUSINESS NEWS SEP/OCT 2018

BAY OF PLENTY BUSINESS NEWS September/October 2018 11
Blackstar Capital acquires
Whakatane-based Asset Finance
The UK’s Blackstar Capital Group has
acquired a controlling stake in Whakataneheadquartered
Asset Finance Ltd.
By DAVID PORTER
No value was disclosed
on the deal, which
saw BCG increase its
stake in Asset Finance from
seven percent to more than
70 percent, with the remaining
shares retained by existing
shareholders.
It is the first New Zealand
acquisition for BCG,whose
chief executive and co-founder
Mark Stephens is a New
Zealander. BCG said the deal
would expand its global presence
and help it capitalise on
the significant opportunities
for non-bank financiers in the
New Zealand and Australian
markets. BCG co-founder
Daniel McGrath has joined the
Asset Finance board.
“This deal is an exciting
development that will deliver
strategic benefits for both companies,”
said Stephens.
“By significantly increasing
our stake in Asset Finance, we
expand BCG’s current portfolio
of consumer and business
finance, broadening our funding
base and strengthening our
global presence. Asset Finance
will benefit from BCG’s experience
and expertise in structured
lending and deal origination
strategies.”
Asset Finance chief executive
Paul Elliott, who will
remain in the role, told Bay of
Plenty Business News that all
comments on the deal had to
come from BCG.
BCG was established
in 2011 as a specialist trade
finance firm, offering deal
origination, structuring and
direct lending solutions. The
company has successfully
arranged more than $300 million
in lending facilities to a
broad range of clients in 2018
to date.
“This deal is an
exciting development
that will deliver
strategic benefits for
both companies.”
– Mark Stephens,
BCG
Headquartered in
Whakatane, Asset Finance is
a finance company which provides
loans to individuals and
companies across New Zealand.
Founded in 1997 by Clive
George, it has a loan book
approaching NZ$20 million
(US$13 million) and serves
clients through a branch network
of branded offices and
partner lending agencies,
mostly in the North Island.
Stephens said BCG did
not intend to make significant
changes to the nature of its
existing business, in a report
in National Business Review.
“We are impressed by the
current team and will now support
them in their operations.
Our main focus initially is to
build in scalability to the operational
side of the business in
order to facilitate our growth
operations.”
He said BCG would be
looking to develop the business
development and loan
origination network and
planned to invest to improve
Asset Finance’s positioning
and competitiveness in the
secured deposits market.
About Blackstar
Capital Group
Blackstar Capital Group
is a specialist trade finance
firm with leading expertise
in the origination, structuring
and management of trade
finance transactions in the
global market.
It provides structured loan
facilities to companies, secured
by the goods being traded and/
or the receivables created, enabling
the company to optimise
its own balance sheet and trading
cycles to increases productivity,
profitability and growth.
It provides investors
with access to the multi trillion-dollar
trade finance sector
through uncorrelated, consistent
return investment products.
Headquartered in London, it
has offices and affiliates in
Luxembourg, Dubai, Hong
Kong, Brisbane and Auckland.
About Asset Finance
Asset Finance Limited is
licensed by the Reserve Bank
of New Zealand (RBZNZ) as a
Non-Bank deposit taker, authorised
to raise money from and
issue securities to the public.
It raises funds from the
public by offering debt securities
in relation to fixed term
deposits.
Its lending is provided in
the form of a range of consumer
loan and business finance
solutions with loans ranging
from $1000 to $400,000
or more.
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