Debt purchaser Cabot Credit Management has confirmed its intention to proceed with an initial public offering (the “IPO” or the “Offer”) on the London Stock Exchange.

 

Ken Stannard, Chief Executive Officer of Cabot Credit Management Limited said: “This is a very exciting episode in Cabot’s continued growth and development. Having built strong and entrusted Credit Management Service businesses in the UK and Ireland we are now well into the construction of leading platforms in three new markets. As one of the largest players in Europe, it now feels right to be listed on the London Stock Exchange. We are faced with significant untapped growth potential in each jurisdiction as creditor clients continue to partner with us to improve their own performance. We have a clear strategy of generating sustainable competitive advantage on the foundation of superior collections effectiveness and outstanding customer treatment. The executive team, with the support of our Board, will continue to work hard to execute this strategy and maintain attractive returns for our shareholders.”

Andy Haste, Independent Chairman-Elect of the Board of Cabot Credit Management Limited, said: “At a time when there is an increased focus on consumer credit, Cabot continues to lead the industry as it works to identify affordable solutions, which help customers with their financial recovery. I have been impressed by the work that Ken and his team have done in building the business in a responsible and transparent way, focused on delivering fair outcomes and a positive experience for its customers. I look forward to supporting the team in that work at what is an important moment in Cabot’s development.”