Five Arrows Leasing Group, which includes the media and technology financing division Five Arrows Media Finance (FAMF), has been sold by Rothschild & Co to Paragon Bank PLC for £117m.

FAMF managing director Gareth Wilding said being part of a listed organisation would allow the company to offer greater access to funding and aid its expansion plans.

“The broadcast arm of Five Arrows Media Finance has already been expanding into larger parts of the market in terms of transmission and project funding,” he said.

“We are looking to expand further into systems integration-type operations, and we are looking at lateral markets to our core broadcast space, such as events and education.

“There won’t be any change to our core business with key manufacturers and vendors and through the channel. Our personnel will remain the same and it will be business as usual.”

As the Five Arrows name is not included in the sale, the company will be rebranded from early next month.

The transaction is due to be completed by 3 November.