Credit, collections & insolvency news
Everyday People Financial, a Canadian-based financial services company, has announced that its subsidiary, BPO Collections has signed a purchase agreement to acquire Arvato Financial Solutions UK (AFS). Arvato Financial Solutions is a provider of accounts receivable management services primarily focusing on providing financial and collection management services in the regulated environment. Arvato’s main creditors operate…
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Debt resolution specialist, Ophelos has announced that it has entered into an agreement to be acquired by debt purchase and collection company Intrum. Intrum says the acquisition of Ophelos, will seek to advance the development of tech-enabled solutions in its offering by further strengthening its market position. Ophelos is a technology company that uses AI to…
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Fintech Ceverine, which offers AI-driven digital collection services, and debt collection specialist Capital Resolve have announced an agreement to merge businesses. In a joint statement, the company said that the strategic combination brings together complementary strengths of both companies. Ceverine’s expertise in machine-learning, automation and digital collections with Capital Resolve’s established history, credentials and proven…
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Octopus Energy has announced it will buy Shell’s household energy business in the UK and Germany. Octopus has signed a deal with Impello, a subsidiary of Shell Petroleum Company to buy Shell Energy, taking on two million new home energy and broadband customers. This deal grows challenger energy supplier Octopus to nearly 6.5 million household…
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Arrow Global Group, an asset manager specialising in credit and real estate has announced the acquisition of Maslow Capital, a provider of real estate finance. The acquisition follows Arrow Global’s initial purchase of a significant minority stake in December 2021 and a 20-month period of successful collaboration that has seen the significant expansion of Maslow…
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Everyday People Financial, a Canadian-based financial services company, has announced that its subsidiary, BPO Collections has agreed to acquire Pastdue Credit Solutions. Debt collection agency Pastdue Credit Solutions was founded in 2005 its clients include energy, water, telecoms, and financial service providers, as well as providing services to government departments. Barret Reykdal, CEO of Everyday People…
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Credit management services company Intrum has completed the acquisition of the Capquest and Mars UK servicing platforms from European fund manager Arrow Global. The deal also includes a portfolio investment of 50 per cent of Arrow’s UK unsecured consumer back book portfolio, for a cash consideration of £92 million. The purchase means Intrum has taken…
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Deceased account management business specialist Phillips & Cohen Associates (PCA) has announced that it has completed the acquisition of debt recovery and credit management services provider, Ardent Credit Services following approval from the Financial Conduct Authority (FCA). Ardent will now formally become a wholly owned subsidiary of PCA’s UK business. Adam Cohen, Co-Founder and Chief…
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Manchester-based MoneyPlus Group, parent company for the brand MoneyPlus Advice has announced that it has completed the purchase of Exeter-based InControl Debt Solutions. This is the second acquisition for MoneyPlus Group this year after acquiring Bright Oak in February. The deal will see InControl’s customers managed under the MoneyPlus Advice brand. Following a detailed due…
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Manchester-based deceased account management business, Phillips & Cohen Associates (PCA) has announced that is to acquire Liverpool-based debt recovery and credit management services provider, Ardent Credit Services. PCA says that the move is part of a long-term strategy to expand expertise and scale within the pre and post charge-off collections space in the UK and…
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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…
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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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Interpath Advisory has announced the appointment of a new Director to its growing Transaction Services team. Leonard Cripps joins Interpath with over nine years of experience specialising in buy-side and sell-side financial due diligence for private equity and corporate clients in the UK and the USA. He joins Interpath from Swedish investment firm Storskogen, where…
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