Omni Capital, the short term lender owned by Christian Candy-backed CPC Group, is moving into the high street lending sector after its group acquired an in-store credit company.

CPC Group, the owners of high net worth specialists Omni Capital, has announced that it has acquired Logical Finance Ltd, a provider of point-of-sale credit facilities to independent and niche retailers.

The Watford-based retail funder will be rebranded and trade as Omni Capital Retail Finance (OCRF) following the acquisition.

OCRF will be run as a separate CPC Group business and will have its own management team, staff and IT platform. The brand will, however, share group infrastructure with Omni’s existing, property-focused business.

Colin Sanders, current CEO of the Omni Capital Group, will extend his Chief Executive duties to the new company.

Michael Bevan, previously Managing Director at Logical Finance, will take on the same position at OCRF and will oversee the new business and its seven employees.

The CPC Group has reaffirmed that Omni’s bridging business will remain wholly unaffected by the acquisition and that its in-house funding arrangements, personnel structure and distribution policies remain unchanged.

Speaking about the acquisition, Colin Sanders said: “It has long been our intention to expand the highly-successful Omni Capital brand into new financial services sectors. Retail finance provides us with the perfect opportunity, and it gives me great pleasure to welcome Michael Bevan and his excellent team to the group.”

He continued: “While an exciting next step in our planned expansion, I want to assure our loyal brokers and distributors that the acquisition in no way alters Omni Capital’s commitment to short-term lending.

“It is this sector in which we have made our reputation and it remains our bedrock. Accordingly, it will continue to receive our full attention and significant future investment.”