SCC squares up to Cisco and HP with finance arm

Rigby Capital aims to turn over £75m within two years

Rigby Group, the parent company of SCC, has launched a captive finance arm it claims will offer customers greater agility and flexibility than the big US vendors.

Rigby Capital aims to turn over about £75m within two years, mainly by offering finance solutions to end users of SCC and Rigby Group's other tech supplier subsidiary, M2.

Based in Bracknell and with eight staff, the new division is helmed by Nigel Jenkins, who has held similar roles at the finance arms of Cisco, HP and Microsoft.

"My previous experience has been with very large US-based IT firms which have the capability but not always the flexibility which I believe is crucial in this sector," Jenkins said.

"Rigby Capital will provide an effective and responsive offer to clients where decision making is done on the ground. What sets us apart is the financing and route to market through the successful IT brands within the group, combined with the agility to adjust our solutions to meet client requirements."

Operating as a sub-brand, Rigby Capital offers three core finance services: finance lease, operating lease and software lease.

Rigby Group said it already operates a successful leasing business in France, which will now rebrand under the Rigby Capital banner.

Jenkins knows his way around the leasing industry, having served stints as managing director EMEA at Microsoft Financing, European theatre director at Cisco Capital and vice president of EMEA sales at HP Financial Services.

Steven Rigby, Rigby Group chief operating officer, said: "Our experience and knowledge of the IT market in particular has shown there is a strong demand for these types of solution. The sector has transitioned significantly and we are seeing more demand for captive finance to fund new investments rather than traditional sources such as the banks.

"We are very confident that by providing this service within the Rigby Group, we can offer a service and solution which is different to what is already on the market."