The parent company of mortgage lender Castle Trust has agreed to purchase 100% of the issued share capital of the finance specialist. 

Omni Capital Retail Finance offers point of sale finance and helps SME retailers provide their customers with the ability to pay for products and services in monthly instalments with the lender recently gaining FCA authorisation.

Omni Capital Retail Finance is currently a brand of CPC Group, which also includes property finance lender Fortwell Capital. Fortwell is not affected by the proposed sale of Omni Capital Retail Finance and will remain a CPC Group business.

Castle Trust Capital will be purchasing Omni Capital Retail Finance for around £26m and the deal is expected to be completed in Q1 2017 following FCA approval.

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“The Omni Capital Retail Finance business is an excellent opportunity to acquire a business that provides online retail point of sale finance,” said Sean Oldfield, CEO of Castle Trust Capital.

“Its portfolio of retailers creates a unique franchise in the market. 

“The business being acquired has an experienced management team with extensive experience in the online retail point of sale sector."

The management team at Omni Capital Retail Finance will remain with the business to ensure a smooth transition of ownership.

Colin Sanders of Omni Capital added: "Castle Trust Capital shares our vision and appetite for growth. 

“Its proposed acquisition of Omni Capital is good news for the business, the management and employees. 

“Under new ownership, we will have access to both fresh capital and efficient alternative debt funding and will benefit considerably from Castle Trust Capital's significant infrastructure and resources."

Castle Trust will receive capital injections from majority shareholder JC Flowers & Co to support the acquisition and growth of the loan book.