Syscap speaks out about sale
Finance firm to undego strategic review before making any decisions on its long term furture
Finance and leasing firm Syscap has set the record straight over rumours that it is to be sold.
The firm, which has annual revenues in excess of £100m, is currently undergoing a strategic review.
Sean Williams, managing director of Syscap, told CRN: “We have decided to hire investment bank NM Rothchild to carry out a strategic review of Syscap to enable us to decide what the best way forward is for the business.”
Although the strategic review isn’t due to be completed for another two months, Williams believed the outcome will be one of three things:
“The options we expect to be presented to us by NM Rothchild are: a flotation; a private equity investment or a third party investor investment.”
Graham Hilton, former director of channel business at rival IT rental firm Livingston, and now an independent marketing consultant, said: “Syscap’s intention has always been to sell the business or float it, to grow it and make it bigger and better.”
An industry source told CRN that global commercial and consumer finance company, CIT Group, had been “sniffing around” Syscap.
However Williams said: “CIT looks at every investment opportunity as does GE Capital.”