Record sales figures mark first anniversary of Syscap MBO

14 August 2007

Syscap Limited , the UK’s leading independent IT finance provider, has announced a record-breaking month, generating in excess of £32.5 million in the month of July. This figure represents over 25 percent of Syscap’s 2006 annual turnover and underlines the company’s achievements over the last 12 months.

Since August 2006, when Syscap’s board of directors approved a private equity funded management buyout, the company has gone from strength to strength in the UK as well as making strong inroads in overseas markets: July’s figures included deals written with companies in Holland, France and the USA.

Commenting on Syscap’s best ever month, Philip White, Chief Executive Officer at Syscap, says: “July’s outstanding sales figures are a true reflection of Syscap’s performance and focus over the past year and a very rewarding outcome for everyone involved. Greater efficiency, a more focused sales approach, stronger relationships with business partners and a widening of the net beyond the UK market, meant that July was our biggest single trading month, with fantastic contributions from across the whole business. Our current annual turnover trajectory is now in excess of £200 million – perhaps a little ambitious, but certainly not out of the question.”

Recent statistics from the Finance and Leasing Association (FLA) illustrate the scale of Syscap’s success: just one percent year-on-year growth in business finance (for deals up to £20 million) and a 15 percent drop in the leasing of office equipment. “Not for the first time Syscap has bucked industry trends and turned in an outstanding performance, while others are struggling,” says White.

“Last August we were talking about creating a platform and infrastructure for sustainable growth,” he adds. “With Syscap’s expected annual growth rate currently between 20 and 50 percent, I think I can safely say we are on the right track. The strength and drive of the Syscap team, is an enormous asset to the company, and, with their continued support, I am confident we can look forward to more months as successful as July.”

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