About Synergy Car Leasing
Synergy Car Leasing is a company that focuses on vehicle leasing in the automotive industry. The company provides leasing services for a wide range of new cars and light commercial vehicles, complete with the manufacturer’s warranty. It was founded in 2006 and is based in Harrogate, United Kingdom. In October 2023, Synergy Car Leasing was acquired by Newable. The terms of the transaction were not disclosed.
Expert Collections containing Synergy Car Leasing
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Synergy Car Leasing is included in 1 Expert Collection, including E-Commerce.
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Latest Synergy Car Leasing News
Oct 10, 2023
Synergy Car Leasing has been acquired by investment firm Newable for an undisclosed sum. Newable says it aims to steer the company through its next phase of growth, helping small and medium-sized enterprises (SMEs) implement salary sacrifice schemes. Synergy Car Leasing was founded in 2006 by Paul Parkinson. Following the acquisition, he will continue in his role as executive chairman. Phil Reynolds, managing director of Newable Lending, said: “We are pleased to have completed this acquisition and are now looking forward to the next phase of growth for Synergy Car Leasing, building on an exceptional, customer-first track record built over the past 17 years. “The UK automotive leasing market continues to grow at pace, driven by an increased desire for flexibility from both personal and business customers, with the rise of hybrid and electric vehicles also playing a key role in creating a wealth of new opportunities.” ThinCats, an alternative finance provider to mid-sized SMEs, provided a significant funding package to enable Newable’s purchase of all outstanding equity in the business, following an initial majority stake which was acquired in 2020. Ben Kimball, director of business development at ThinCats, said: “It has been fantastic working with Phil, and we are excited to be supporting an ambitious business on a strong upwards trajectory. “They have remained agile and responsive to changing market demands, which is testament to the quality of the whole team, and we look forward to seeing them continue to go from strength to strength.” In 2023, Synergy achieved the Feefo Platinum Trusted Service Award for a fourth consecutive year. Legal support for the transaction was provided by Avril Higginbottom at Clarion and financial due diligence conducted by Martin Athey at Translink Corporate Finance.
Synergy Car Leasing Frequently Asked Questions (FAQ)
When was Synergy Car Leasing founded?
Synergy Car Leasing was founded in 2006.
Where is Synergy Car Leasing's headquarters?
Synergy Car Leasing's headquarters is located at 12A Hornbeam Park Oval, Harrogate.
What is Synergy Car Leasing's latest funding round?
Synergy Car Leasing's latest funding round is Acquired.
Who are the investors of Synergy Car Leasing?
Investors of Synergy Car Leasing include Newable.