Perch Group secures £90m growth funding package

18th September 2023 Company News | #growth funding

Debt purchase, collections, litigation and reconnection specialist, Perch Group has announced that it has successfully completed on two facilities with a combined value of £90 million to enable the next stage of its ambitious growth plans.  The fresh new capital comprises of a new NatWest-led banking syndicate, which includes Hampshire Trust Bank, and a material…

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Co-operative Bank buys mortgage portfolio from Sainsbury’s Bank

The Co-operative Bank has announced that it has purchased the mortgage portfolio of Sainsbury’s Bank for £464 million. The sale marks Sainsbury’s Bank’s formal exit from the UK mortgage market, with it having ceased new lending in 2019. The portfolio contains around 3,500 customers and is worth nearly £480 million.  Sainsbury’s Bank will transfer its mortgage customers to Co-op…

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Intrum and Aryza agree dutch partnership

25th July 2023 Company News |

European credit management service provider, Intrum has announced a partnership with Aryza Group to leverage its software solution in the Netherlands. The credit management specialist has implemented Aryza Control software which will enable Intrum to distinguish between individuals who are genuinely unable to pay and those who are unwilling to fulfil their obligations, enabling them…

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Lantern raises syndicate financing facility

6th June 2023 Company News | #debt sale

Specialist debt purchasing and customer management services provider, Lantern has announced that it has raised a syndicate financing facility with specialist banks Hampshire Trust Bank, Paragon and Shawbrook and alternative investment firm, BCI Capital The EY FS Corporate Finance team has recently advised Lantern on the completion of a £97.5 million amendment, refinance and extension…

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Perch Group announces new client team appointments 

10th May 2023 Appointments | #appointments

Debt purchase, collections and litigation specialist, Perch Group has announced the appointment of Rob Oxley as Origination Director and Bronia O’Regan as Lead Implementation Manager. Oxley brings 13 years’ experience in senior client facing roles within the credit risk and collections industry to Perch Group. Four of those years were spent at TransUnion and six…

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Lowell announces growth despite consumer challenges

27th April 2023 Company News |

European credit management services specialist, Lowell has announced its full-year results for the 12 months ended 31st December 2022. The company showed that cash income and cash EBITDA growth of 8% and 7% respectively YoY with Cash EBTIDA margin held flat at 59% YoY as guided. Lowell also showed a strong collection performance at 101%…

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Arrow Global’s ACO II Fund surpasses target

24th March 2023 Company News |

European asset manager Arrow Global has announced it has reached hard cap of its flagship strategy Arrow Credit Opportunities II (ACO II) fund at approximately €2.75 billion including a General Partner commitment of €275 million. ACO II received extensive investor demand from both new and existing partnerships, which significantly exceeded its fundraising target of €2.5…

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Broadband customers trapped by price hikes and exit fees

Consumer champion specialist, Which? is calling on telecoms firms to let customers leave without penalty if prices are hiked mid-contract, as new research shows that many broadband customers are trapped in a lose-lose situation where they either have to accept exorbitant mid-contract price increases or pay exit fees of over £200. Many broadband firms –…

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Intrum agrees deal to acquire Capquest and Mars platforms from Arrow Global

22nd November 2022 Consumer Collections | #debt sale

Credit management services company Intrum has agreed to a £36.5 million deal to buy the Capquest and Mars UK servicing platforms from European fund manager Arrow Global, along with a £121.25 million investment for 50% of Arrow’s UK back book consumer portfolios. The purchase includes outsourcing contracts with major financial institutions as well as the…

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Lowell confirms acquisition of Hoist Finance UK

25th October 2022 Arrears and Recoveries |

European credit management services provider, Lowell Group has announced that it has completed the acquisition of Hoist Finance UK following receipt of regulatory approval. The transaction includes the operations of Hoist Finance UK and its entire unsecured non-performing loan portfolio, comprising of over 2 million consumer accounts, which had approximately £585m 180-month Estimated Remaining Collections…

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CSA CEO appointed to FENCA board

27th June 2022 Appointments |

Chris Leslie, Chief Executive of the Credit Services Association (CSA), the UK trade body for debt collection and debt purchase, has been elected to the board of the Federation of European National Collections Association (FENCA) today at the Associations Annual General Meeting (AGM) in Berlin. FENCA represents the interests of the European credit management, debt…

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CSA Awards opens for nominations

31st May 2022 Consumer Collections |

The Credit Services Association, the trade association for the debt collection & purchase sector, has launched its annual Membership Awards which is part of the Association’s annual conference – the UK Credit and Collections Conference (UKCCC). The awards are being held on Thursday 15th  September at Radisson Blu, Manchester Airport, and will celebrate the outstanding…

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Lowell announces growth in latest results

30th May 2022 Company News |

European credit management services, Lowell has announced continued growth in its latest results for the 3 months ended 31st March 2022. The results showed that collection performance was in line with forecasts at 98% whilst underlying collection performance remains strong, with the paying base performing at 99% of expected collections and default rate remaining low…

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