Marshall sells leasing business to Northridge Finance for £42.5m
Northridge Finance, the Bank of Ireland’s UK asset finance business, has acquired Marshall Leasing from Marshall Motor Holdings for £42.5m. Marshall Leasing operates a fleet of over 6,000 vehicles which it supplies primarily to the SME sector on a contractor and daily basis. Northridge will pay Marshall Leasing’s parent company a further one-off fee of €500,000 for use of the Marshall brand name for five years. Marshall Motor Holdings will use the move to focus on its retail network of franchised car dealerships instead.