Boutique bank Close Brothers has acquired Bluestone Motor Finance as it attempts to expand into the Irish motor market. The deal is expected to complete in the fourth quarter of this year. The value of the deal has not been disclosed. Since its launch in 2014, Bluestone Motor Finance has originated more than €450m loans and has €132m in loans under management. It has a distribution network of over 650 partners focusing on the prime and specialist segments of the Irish motor finance market. Adrian Sainsbury, Close Brothers boss, said the firm has "delivered impressive growth" and the deal will complement its presence in the UK and Ireland. Its share price rose following the announcement, closing up 3.6 per cent.

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