Debt solution company MoneyPlus Group has announced that it has completed the purchase of debt advice management specialist Bright Oak.
MoneyPlus Group has received substantial investment over the last 2 years from both Intriva Capital and Oak North Bank and has spent that time fine-tuning internal operations ready for significant scaling. There is no firm in the UK debt advice sector that has completed as many acquisitions, and with more due to complete later this quarter, MoneyPlus Group is set for substantial growth this year.
The acquisition took place following a Change In Control being granted by the Financial Conduct Authority (FCA).
Chris Davis, Chief Executive Officer at MoneyPlus Group said “This acquisition is the first in a series of steps we have in place to further establish MoneyPlus Group as a leader in the commercial debt advice sector. Sustainability is important to me, and the rest of the executive team here, so we’re deliberately strategic in our growth plan.”
“In the current economic climate, it’s clear that more of the UK will need help with their finances. We want to ensure that we continue to provide the best advice and the highest levels of service to people in financial difficulty as our business scales. We’re looking forward to welcoming Bright Oak customers to MoneyPlus Group and supporting them to reach their financial goals.”