Financial services mutual has acquired short-term business loan provider Syscap.
The firm, which is based in Surrey and Cheshire, was bought in an undisclosed deal from a fund advised by AnaCap Financial Partners and specialises in loans, IT leasing and asset finance.
Birmingham-based Wesleyan said the acquisition strengthened its position in the short-term loan market and extended its range of commercial services to include the provision of IT leasing and asset finance.
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Chief executive Craig Errington said: "This is an exciting acquisition for us. Syscap is a strong, successful business that operates in professional markets very similar to our own.
"They also have the same strong focus on quality specialist service, based on a real understanding of their customers' needs.
"There is a great synergy with the services we currently offer through Wesleyan Bank where we already have a successful short-term loans business.
"This is good news for our customers who will now have access to an increased range of business finance and leasing options through Wesleyan, as well as being able to meet their personal financial needs."
Philip White, who has been with Syscap since 1993, remains as managing director and its 69 staff will remain based in their current offices in New Malden and Northwich.
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Wesleyan was advised by financial services firm which provided lead advisory, transaction due diligence and structuring advice.
The team was led by Darren Boocock, Simon Thompson, Richard Monahan and Peter Croom. Legal advice was provided by The Wilkes Partnership, led by Jeremy Parkin.