Shawbrook to acquire JBR Auto Holdings Ltd

Shawbrook Group PLC

17 June 2024

 

Shawbrook Group plc - Shawbrook to acquire JBR Auto Holdings Limited

Shawbrook Group plc (the 'Group') today announces that it has signed an agreement to acquire JBR Auto Holdings Limited ('JBR'), a UK specialist motor finance lender focused on high-end vehicles. Subject to satisfaction of the conditions precedent to the acquisition, completion is expected to take place in Q3 2024. The acquisition not only broadens Shawbrook's offering within the regulated motor finance sector but also reinforces its commitment to provide finance to customers in clearly defined markets who value the premium experience it delivers.

Marcelino Castrillo, Chief Executive Officer at Shawbrook commented: "JBR's extensive knowledge of this specialist segment within the wider motor finance market is exceptional. Aligning the business to Shawbrook's 'best of both' approach, combining technology with deep human expertise, this acquisition will help us to extend the JBR proposition to more customers who value a premium experience, flexibility, and certainty when securing finance for their high-end vehicles."

Darren Selig, Founder and Chief Commercial Officer at JBR, said:

"We are excited for JBR to be joining Shawbrook where we can leverage its established platform and resources to further enhance our customer proposition and serve more customers in our segment of the market. It allows us to combine JBR's specialist expertise with Shawbrook's broader capabilities, creating a truly unique offering for our clients in the high-end motor finance market."

For investor enquiries, please contact:

Murray Long

Head of Investor Relations

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For further information, please contact:

Joe Hughes

Teneo

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About Shawbrook

Shawbrook provides finance to a wide range of customers who value the premium experience, flexibility and certainty we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders. We have a diversified offering, with our innovative lending propositions tailored to meet specific customer needs in carefully selected markets across SME, Real Estate and Personal. Our innovative and specialist lending products range from complex structured credit facilities for growth-focused businesses to mortgages for professional landlords and property investors, as well as simple loans for consumers delivered digitally. We fuel our lending through customer deposits, which we attract by delivering a premium experience, choice and consistently great value to smart savers. The business model we have created is unique and difficult to replicate, with our 'best of both' approach combining deep human expertise with advanced digital, tech and data capabilities. This combination not only allows us to deliver excellent customer experiences, but to do so efficiently and at scale. We are proud of our innovative and agile culture, which drives consistently high employee engagement scores and makes Shawbrook an attractive destination for the best talent. The Group's lending activities are primarily funded by a stable retail deposit book consisting of easy access and ISA accounts, variable rate notice accounts and fixed rate fixed term accounts (mostly one - five years). Shawbrook Bank Limited is an operating entity of Shawbrook Group plc. Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of the Financial Services Compensation Scheme.

 

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