CarMoney

ITOCHU Corporation has successfully acquired CarMoney, a Motherwell-based car finance broker, following regulatory approval from the Financial Conduct Authority (FCA). This transaction allows CarMoney to integrate into the ITOCHU Group while maintaining its operational independence and existing management team, with ambitions for further expansion.

Summary of transaction details:

• Value: Undisclosed
• Sector: Fintech
• Advisor: Not disclosed
• Key Entities: CarMoney (Target), ITOCHU Corporation (Acquirer)
• Location: Motherwell, UK (CarMoney)

Note: This acquisition strengthens ITOCHU Corporation's presence in the financial services sector and provides CarMoney with the resources and backing to accelerate its growth and market reach both domestically and internationally, building on its success in brokering a record £309m in loans.