Aspray Group has been acquired by Bushell Investment Group for an undisclosed sum.

The company, which owns BIG Property Finance a short term loans specialist, said the buyout came after months of discussions between the two parties.

Aspray Group, which is made up of three divisions: Aspray24 (registered as Aspray Transport at Companies House), Aspray Logistics and Aspray International, was previously owned by holding company Nationworld.

Lee Bushell, CEO of Bushell Investment Group, which is based in Birmingham, said: “The Aspray Group is an incredible local business with global reach. We are thrilled to be working with them to help drive future growth and to ensure this business reaches its full potential.”

Pat Laight, CEO of Aspray Group, said: “We’re delighted to be working with the Bushell Investment Group team and know they will bring fresh thinking and strategies to our business, which will ensure that it flourishes in the years to come.”

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Laight will assume the role of chairman at the group.

Former Aspray24 MD and Nationworld CEO Stuart Laight left the business late last year. Group sales and marketing director Andy Gadsden and director Mark Jones have also stepped down from their roles as directors at the firm, according to Companies House.

Off the back of its most recent accounts, Aspray24 (Aspray Transport) detailed a turnaround strategy in a trading year that saw a fall in turnover and the company register a pre-tax loss of £378, 754 for the year ending 30 June 2017.