Shares began trading on 2 April, with the business valued at £115.1m. The move generates about £40m for the company.

In a statement, the company said it is a positive move, reflecting a determination to support the growth of the group in the future.

It added: “It is important to note that the Marshall family, who have kept this business private for over 105 years, will remain the majority shareholders after this event. Our future will continue to be based on the core Marshall values that has served us so well over the years.”

Peter Cakebread, managing director of Marshall Leasing, added: “I have spent the last 25 years working to build Marshall Leasing into a respected player within our industry. This move is great for the group, as it is all about investment in our future. It will enable us to take full advantage of any growth opportunities, whilst enhancing our ability to deliver on client expectations. Meanwhile, our values and commitment to customer service will remain unchanged.”