It is understood ScotPac, majority owned by private equity firm Affinity Equity Partners, has lobbed an expression of interest in the past couple of weeks, saying it would be interested in a closer look at the company’s assets with the view to making a bid.
It comes as Humm has a $335 million scrip and cash deal to sell its consumer business – instalment payments and cards – to fellow non-bank financier Latitude Financial Group.The consumer deal, finalised this month, would leave Humm as one of the country’s top providers of specialist asset finance to businesses, with more than $1 billion in receivables.
ScotPac’s roots are in trade finance to small and medium-sized businesses, including debtor finance. It was acquired by pan-Asian buyout firm Affinity Equity Partners in 2018, when ScotPac had a $1 billion plus loanbook and $207 million in net assets. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.