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Birmingham Post
Birmingham Post
Business
Tom Pegden

Isle of Man firm takes majority share in East Midlands car bills credit provider Payment Assist

Isle of Man East Midlands Halfords

An offshore banking and finance group based in the Isle of Man has taken a majority in East Midlands car bills credit provider Payment Assist

Manx Ventures has acquired a 50.1 per cent stake in Melton Mowbray-based Payment Assist for £4 million – with an option to buy the remaining 49.9 per cent for up to £5 million more.

Payment Assist works with national chains such as National Tyres, Halfords and Formula O to provide point-of-sale finance to vehicle owners having work done.

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