05 July 2012 6:54am

Investec Bank (Australia) has doubled the size of its asset finance business, with the acquisition on Monday of Alliance Equipment Finance.

Alliance, which was founded by Pat and Peter MacMillan in 1992, is a vendor finance specialist. Its vendor relationships include Konica Minolta, Cisco and document finishing specialist GBC Australia.

The firm has 12,000 customers according to a notice at its website about the takeover.

Investec is seeking to broaden its reach in the asset finance sector. The bank's present strengths in this field are in the medical sector, mainly in...