Collections consultancy, Arum Systems has been acquired a new investment team. The deal was completed a month after Arum released its annual financials. No significant changes are planned for Arum or its management team.
Jamie Waller, former CEO of JBW and Hito and the lead investor on the deal said “Arum has a great reputation in the industry and is known for its expertise, quality of service, transparency and ability to deliver. We plan to expand that good reputation through significant investment in people, processes and services.”
Arum Co-founder Andy Pritchard said ”There will be little change in the day-to-day for employees, customers or suppliers as a result of the transaction and former CEO and co-founder, Aleks Tomczyk will remain with the business during the first year to assist in a successful transition. Arum will continue to provide vendor independent specialist expertise.”
Experienced incoming CEO Mark Johnston added: “This deal will enable the future success and growth of the business building on the good work that has been done to date by the Arum team, continuing to focus on excellent delivery to clients whilst broadening the range of services and offerings.”