Published 23 October 2007While other financiers battle stay alive, Scottish Pacific said at the weekend it was making a comeback under new ownership.
A joint venture between Balmain NB Corp Ltd & Allco Finance Group, BA Venture, completed the purchase of Scottish Pacific Business Finance Pty Ltd with a change of directors on Friday.
BA Venture is the majority shareholder in Benchmark Debtor Finance, in Australia, but Scottish Pacific will continue to operate under its own brand.
Scottish Pacific’s New Zealand manager, David Cooper, said the change in ownership would allow the 2 businesses to combine the strengths of both in their management skills, resulting in expanded products, new target markets and a greater capacity for effective marketing.
Allco also completed its purchase of Strategic Finance Ltd early this year.
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Attribution: Company release, story written by Bob Dey for this website.