Asset Finance guru joins LUV FS09/01/2019
Warrington-based LUV Financial Solutions have taken the next step in their ambitious growth plans.
After entrepreneurs Steve Coulthard together with Steve Hibbert who financially supported the start up of the business in 2014 as a car finance broker, took on investment from Jeremy Carr of Energize Capital in 2015, the next logical development was to take on an experienced asset finance professional in Richard Fothergill in order to set up an asset finance brokerage in April 2018.
In keeping with the company strategy LUV FS have appointed Mike Nolan to create an own book facility to complement the asset finance brokerage and the used car finance operation.
Mike was a founder director of Academy Leasing and when the company was sold to 1pm plc in August 2015 he stayed on as a main board member for three years with responsibility for the asset finance division and identification of acquisition opportunities. During his tenure the group turnover rose from £12.5million to £30million with a pre tax profit of £7.9million from £2.5million and now comprises seven group companies all of which serve SMEs in the UK.
Mike Nolan commented, “This is a great time to be involved in a business with a young enthusiastic team which is well supported by its ambitious shareholders. My objective is to help LUV FS develop a more comprehensive range of financial products to offer to both individuals and SMEs throughout the UK.”
Chairman Steve Hibbert of LUV FS, who like Mike has over 30 years experience in growing businesses, commented, “I am delighted that Mike Nolan has decided to join the main board of LUV FS as non executive director. His expertise and industry knowledge after building one of the UK’s largest independent leasing companies Academy Leasing will help push LUV on to the next stage of its growth plan to be a leading independent “go-to” finance house specialising in motor, asset and development/bridging finance.”
Steve Coulthard, Managing Director of LUV FS, added, “LUV FS has achieved rapid growth to date and has exciting future expansion plans. This is an amazing opportunity for both Mike and LUV FS and we welcome him on board.”