Eclipx Group (ECX) supplies, finances and manages nearly 80,000 vehicles on behalf of corporate customers and consumers in Australia and New Zealand. The company recently listed in April 2015 following the appointment of a new management team and the acquisition of two highly complementary businesses, FleetPlus and CarLoans. Ophir is attracted to the business for a number of reasons, including management’s track record of identifying, growing and innovatively financing leasing assets. This has been evidenced by new business written significantly growing in the past 18 months under the new management team whereas it has been anaemic for the last couple of years. ECX also uses an innovative funding solution whereby it has access to numerous funding sources, including third party origination, warehouse facilities and its own asset backed securities. This will allow the company to competitively fund the growth in new business. Finally, Ophir is excited by management’s ability to extend the business beyond fleet leasing, including consumer car loans and new commercial equipment finance.