LDC-backed Evolution Funding acquires Motion Finance to drive continued growth
1 Jun 2023
Motion Finance prides itself on providing its customer base with the best possible service and setting the standards for UK vehicle finance brokerage, an ethos that fits perfectly with our own. We look forward to welcoming the team and working together to explore opportunities for further growth.”
Lawrence Dean, Partner and Head of South at LDC, commented: “This acquisition represents another landmark step for Evolution’s growth journey and the best-in-class service it offers. We’re excited to see what’s next for Lee and the team and will continue to be a trusted partner and help them identify other complementary acquisitions to support the business’ growth.”
Ian Kennah, Managing Director of Motion Finance, said: “We’ve worked extremely hard over the last 17 years to build the reputation that Motion Finance has today, and it’s been a journey I have thoroughly enjoyed being part of. Since our rebrand in 2017, we have seen incredible growth and as shareholders we realised maintaining such growth on our own would become more and more difficult. Finding the right position for Motion to continue to progress was imperative to us.
The opportunity to become part of the Evolution Funding Group has come at a great time, and we are looking forward to seeing what opportunities this will bring. We believe combining our tailored approach with Evolution’s technology and enhanced products will allow us to improve our offering to dealers and in turn, increase our market share. I am incredibly excited to be leading Motion into the next phase in its journey and beyond. All our staff are dedicated to offering our dealer partners an exceptional service whilst supporting them with all their finance needs, and we’re committed to ensuring that this continues.”
Evolution Funding was advised by Si Heath of Heligan Corporate Finance, Gowlings and BDO.
Motion Finance was advised by Gareth Hughes & Co, Bennett Brooks, and Taylor Rose.
Image – From l to r: Lee Streets (Evolution CEO), Katie Hayes (Evolution COO), Ian Kennah (Motion Managing Director), Paul Saggar (Evolution CIO), Ian Kay (Motion Sales Director), Chris Coverdale (Evolution Group Sales Director) Scott Kingsley (Motion Operations & Risk Manager), Kevin Kaye (Evolution Finance Director)