Shawbrook Group plc has signed an agreement to acquire JBR Auto Holdings Limited, a UK specialist motor finance lender focused on high-end vehicles.

Subject to satisfaction of the conditions precedent to the acquisition, completion is expected to take place in the third quarter of the year.

The acquisition will broaden Shawbrook’s offering within the regulated motor finance sector.

Marcelino Castrillo, CEO of Shawbrook, said: “JBR’s extensive knowledge of this specialist segment within the wider motor finance market is exceptional.

“Aligning the business to Shawbrook’s ‘best of both’ approach, combining technology with deep human expertise, this acquisition will help us to extend the JBR proposition to more customers who value a premium experience, flexibility, and certainty when securing finance for their high-end vehicles.”

Darren Selig, founder and chief commercial officer at JBR, added: “We are excited for JBR to be joining Shawbrook where we can leverage its established platform and resources to further enhance our customer proposition and serve more customers in our segment of the market.

“It allows us to combine JBR’s specialist expertise with Shawbrook’s broader capabilities, creating a truly unique offering for our clients in the high-end motor finance market.”