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County Durham finance firm Anglo Scottish Asset Finance Ltd has completed a management buyout to take back control of the business.

Anglo Scottish, based in Chester-le-Street, was founded in 2007 and quickly established its name in the finance brokerage industry. It was acquired eight years later by McMillan Shakespeare Group, a publicly listed Australian company. McMillan Shakespeare Group has now made the strategic decision to exit the UK and focus on its core capabilities in Australia, allowing the management team in the North East to complete a management buyout.

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