BVRLA welcomes news of Masterlease acquisition
Under the terms of the deal, Wokingham-based Leasedrive Velo Group has been contracted to take over the management and day-to-day operations of the leasing firm.
John Lewis, chief executive of the BVRLA, said: 'This deal does not come as a surprise – GMAC, or Ally Financial as it is now known, has been divesting its full-service leasing businesses across the globe.
'It is great to welcome Investec into the vehicle funding arena. They have obviously recognised that this sector of the asset-backed finance market can provide good returns at low-risk.'