Credit, Collections & Insolvency News
Business debt solutions specialist, Azzurro Associates has announced it is launching a new business following the acquisition of Equivo’s Legal Services division and Shoosmiths’ Business-to-Business Recoveries division.
The two teams will come together to form a new business called Solaris Law. The new business will create a new specialist law firm focussed on market consumer and business/commercial debt recovery. It will initially employ more than 150 staff across three sites. Equivo’s Field Team and High Court Enforcement Business will not form part of the new business, and will continue to operate under the Equivo brand with CEO, John Ingram.
Solaris Law will be led by Karen Bulgarelli and Mel Chell as joint Chief Executive Officers. Jim Taylor will act as an advisor to the business in managing its secured and unsecured consumer lending clients. All three worked together previously at Shoosmiths.
Bulgarelli said “We share a single-minded focus on developing Solaris Law into a diverse, market-leading recoveries business, built on a data-driven, customer focused recoveries strategy that leads to good customer outcomes and in turn gives our clients a better service.”
Chell said “From early and live collections and recoveries to litigation and beyond, our teams will be able to deliver the full suite of services for creditors working across both consumer and commercial lending, secured and unsecured, and led by true sector experts and experienced legal professionals.”
Upon the transition of the existing Equivo and Shoosmiths teams to the new business, client contacts will be maintained to ensure the highest levels of service continue. The case management platform is common across all parties, and further investment in additional systems and infrastructure is planned.
Completion will take place as soon as regulatory approvals are obtained. Azzurro Group is regulated by both the Financial Conduct Authority and the Solicitors Regulation Authority.
Andrew Birkwood, Founder of the Azzurro Group said “With the strength, agility and investment from the Azzurro Group, we have the appetite and the ability to build an even more formidable data-driven business in the recoveries space with a first-class, highly collaborative leadership team with a shared vision, and total alignment of culture and values.”
