Close Brothers Motor Finance announces Bluestone Motor Finance acquisition
Close Brothers has today (20 Sept, 23) reached an agreement to acquire Bluestone Motor Finance, a motor finance specialist in Ireland.
Close Brothers Motor Finance has over a decade of experience in the Irish market, having helped over 130,000 customers finance vehicles. The business is committed to growth in the Irish motor market and has focussed on acquiring a business that not only shares Close Brothers’ values, but also its high standards of service for dealer partners and customers.
Bluestone Motor Finance is a business with a strong management team and a specialist lending approach that aligns with the Close Brothers Motor Finance offering. It has an established distribution network of over 650 dealer partners and an experienced sales and underwriting team, focusing on the prime and specialist segments of the Irish motor finance market. Customers score the offering ’Excellent’ on Trustpilot.
Bluestone Motor Finance, like Close Brothers Motor Finance, has invested in its digital capabilities and its online application offering is industry-leading in Ireland, while partnerships with online car distribution platforms like DoneDeal and CarsIreland.ie provide substantial routes to market.
Seán Kemple, CEO of Motor UK and Retail Finance Ireland, Close Brothers, said: “Investing further in the motor finance market in Ireland has been a strategic priority for Close Brothers. We’ve been carefully considering our re-entry options to acquire a business that fits with our values, is forward thinking, and offers a stand-out level of service. Bluestone Motor Finance is the right business. We are impressed with their experienced management team, strong dealer base, leading tech capabilities, and established routes to market.
We have a track record of supporting the growth of our dealer partners and going the extra mile to help customers finance the right vehicle for them. We’re excited about expanding the Close Brothers brand, our expertise, and our product range, to the Irish market – with products we know customers and dealers want and value.
It’s a real pleasure to welcome Donal and his impressive team to Close Brothers and I am excited about the future potential of working together to further grow in the Irish market.”
Donal Murphy, Managing Director at Bluestone Motor Finance said: “Since 2014, we have built a strong, award-winning motor finance business in Ireland. We’ve successfully developed our presence and relationships with Irish dealers, digital partners and brokers. Combining digital expertise with the personal touch has allowed us to pivot our approach as appropriate, accelerate our offering and provide financial solutions to more drivers nationwide. Today we join a company with deep history and experience in the Irish and UK motor finance industry, and we look forward to the opportunities ahead of us in the Irish market. We believe that Bluestone Motor Finance, ‘the motor finance people’, being acquired by Close Brothers will enable us to offer a wider product range to both car buyers and motor dealers.”
