Jelf Group has bought Auto Business Solutions, an asset finance broker, for an undisclosed sum.
The broker employs five staff, including managing director John Mitchell, who will be retained under the deal.
Jelf said the exact size and structure of the deal is subject to confidentiality clauses but is in line with market practice.
The company said there will be an initial payment at completion, with additional sums based on performance over the next two years.
As part of the deal John Mitchell will invest in shares of Jelf Group at the current market price, the company added.
Alex Alway, Group chief executive at Jelf Group, said: "The acquisition of ABS strengthens the Group's newest division, Jelf Commercial Finance, adding knowledge and experience of vehicle and asset finance to our existing property and invoicing finance capabilities.
"The JCF proposition has been well received by our clients and will play a growing role in our strategy of delivering organic growth by cross-selling a range of complementary services into our client base."
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