The home credit arm of Solihull-based finance group S&U has been sold in a £82.5 million deal.
Loansathome4u, which is also headquartered in and operates from 40 locations across the 海角视频, has been acquired by Non-Standard Finance.
The buyer was established to acquire companies or businesses in the non-standard consumer finance sector which serve customers who do not meet criteria for mainstream lending.
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S&U said proceeds from the deal would allow £47 million of investment into its other lending products.
Chairman Anthony Coombs said: "The recent unsolicited approach from Non-Standard Finance for our home credit business led the board to reconsider the group's future strategy.
"The board believes there are significant benefits from the sale of Loansathome4u for realising fair value for our shareholders but also significant opportunities to further accelerate the expansion of (other products).
"It is our intention to make a significant return of capital once we have concluded our assessment of reinvestment options and following discussions with the company's shareholders."
Non-Standard Finance's chairman John van Kuffeler added: "I am delighted to announce a significant first step in the implementation of our strategy.
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"Loansathome4u is a leading player in the home collected-credit market. It provides us with a well-established platform, a growing business, attractive operating margins and return on assets and will form a strong base for Non-Standard Finance as we grow organically and acquire new businesses."
The corporate finance team at in Birmingham was lead financial adviser on the deal.
Partner Darren Boocock said: "This is a landmark transaction in the non-standard finance sector and provides a long-standing Midlands-based business with the opportunity to be a key part of an exciting sector expansion.
"I am confident that the management team and employees of Loansathome4u will enjoy an exciting future as the strategy develops."