Newable builds on growth with majority shares acquisition of North Yorkshire firm

SME support firm Newable has announced it has acquired a majority shareholding in a North Yorkshire-based vehicle finance firm.

The national business support specialist has acquired the majority shareholding in Synergy Automotive Limited, which is based in Harrogate.

Founded and run by entrepreneur Paul Parkinson, Synergy specialises in vehicle leasing employs a growing team of nearly 50 people, operating across the country.

Paul will continue to lead Synergy as CEO, with Newable providing additional support across IT systems and automation, HR, finance and marketing.

Chris Manson, Newable CEO, commented: “Newable is looking to capitalise on market opportunities created by the changing nature of work and the shifting pattern of how users pay to access assets that help them run their businesses and personal lives.

“Synergy is an exciting addition to our offering within our lending portfolio.”

Paul Parkinson, Synergy CEO, added: “I see so much opportunity in this sector – from helping customers transition to electric vehicles to supporting more SME business customers.

“We are delighted to be working with Newable, a business that shares our ambitions for growth with the resources and support to help us deliver on these in a dynamic change-driven marketplace.”

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