Tandem has announced that it has agreed on a deal to acquire Harrods Bank, subject to regulatory approval. The deal will bring around £80 million of capital into the business. Once the deal has been completed Tandem can accelerate launch plans and start to offer savings accounts as well as continued development of the app and credit card. The…

Non-Standard Finance has announced that it has agreed to acquire George Banco from its existing shareholders for an enterprise value of £53.5million, payable in cash. Completion is expected in September 2017 and the acquisition is expected to be earnings enhancing in the first full year following completion. Having launched in April 2014, George Banco has grown rapidly…

Maclay Murray & Spens announced that it is to combine with Dentons. The combination, which is expected to complete later in 2017 following approval by the partnerships of both firms. The new group will combine operating from offices in Aberdeen, Edinburgh, Glasgow, London, Milton Keynes and Watford. Dentons’ Global Chief Executive Officer Elliott Portnoy said “This combination…

FRP Advisory has strengthened its north of England operation with the merger into the partnership of BWC, the Yorkshire and Teesside-based, independent, corporate recovery and insolvency specialists, bringing into the group all of its 16 staff including three partners and four directors. Led by founding partners Gary Blackburn and Paul Whitwam, David Willis, Martyn Pullin…

Moody’s Corporation has announced today that it has received clearance under the EU Merger Regulation from the European Commission to acquire Bureau van Dijk, a global provider of business intelligence and company information. Moody’s announced that it had agreed to acquire Bureau van Dijk on May 15, 2017. In accordance with the terms of the transaction, Moody’s expects the…

Debt Management specialist MoneyPlus Group has bought Baines & Ernst after it went into administration. FRP Advisory was appointed administrators of Baines & Ernst. The business and assets of Baines & Ernst were then sold, resulting in the transfer of all 80 staff and all its debt solution plans and customer data. Baines & Ernst…

Star Asset Finance (SAF) has continued its consolidation of the SME asset finance market by completing the acquisition of Credo Holdings. Norwich-based Credo was established in 2005 as an independent provider of asset finance. The company has a growing own-book portfolio, coupled with brokered finance supported by a number of industry funders. Specialising in hard and soft…

FinTech and regulatory services businessEquiniti Group have announced the acquisition of the Nostrum Group. Nostrum is a provider of end-to-end loan management technology that helps banks, finance companies, and retail brands provide innovative credit solutions to their customers. They deliver services that support the whole lifecycle of lenders’ operations from front-end lead generation and application processing…

Private Equity Investor Endless LLP has acquired PRAC Financial Limited (“PRAC”) from its private owners. PRAC is a niche debt purchasing business, specialising in acquiring regulated and non-regulated, consumer and commercial debt portfolios. Endless investment has supported PRAC with the purchase of two consumer debt portfolios to date. For both of these acquisitions, PRAC has…

Cabot Credit Management (CCM) has announced its financial results for the three months ending 31 March 2017. As part of the results, Cabot announced that it has acquired Orbit Debt Collection, a UK based debt contingency business who specialises in the Utilities sector. In addition, Cabot has also obtained regulatory approval for the Irish business, Cabot Financial Ireland,…

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