Credit, Collections & Insolvency News
Top ten accountancy and business advisory firms BDO and Moore Stephens have exchanged contracts confirming a merger that will create the largest UK accountant and business adviser focused on entrepreneurially-spirited, fast-growing businesses and high-net-worth individuals. The exchange of contracts, confirms a deal that will cement BDO’s position as the UK’s leading AIM-market auditor and will enhance the combined…
Read moreEnergy firms SSE and Npower have cancelled their merger plan. The move has been blamed on “very challenging market conditions”. The deal would have created the UK’s second-biggest energy supplier. The government’s new price cap means is due to start in the new year and has been a key factor in the cancellation. In a company…
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1Experian has announced that it has agreed to acquire Compuscan (CSH Group Pty), one of the leading credit bureau and information services businesses in Africa. Established in South Africa in 1994, Compuscan started as a credit bureau, focused on the micro-lending industry. It enabled micro lenders to avoid financial loss by identifying clients’ repayment probability…
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The Competition and Markets Authority (CMA) has published its concern that Experian’s takeover of start-up rival ClearScore could stifle product development and impact customers. The CMA’s Phase 2 investigation has provisionally found that Experian’s takeover of ClearScore is likely to result in less intense competition, potentially harming the continued development of digital products which help…
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Accountancy and business advisory firms, BDO and Moore Stephens LLP, are in advanced merger discussions to create a market-leading firm. The new firm will be the leader in advising the UK’s entrepreneurial mid-sized businesses but will also challenge its larger competitors for more complex audit, tax and advisory work. The proposed deal further cements BDO’s…
Read moreTransUnion, the global risk and information solutions provider, has announced it has an agreement to sell its Noddle business, the UK-based free-for-life credit reporting and monitoring service, to Credit Karma. TransUnion acquired Noddle earlier this year as part of its acquisition of Callcredit, the second largest credit reference agency in the UK. John Danaher, TransUnion’s…
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Affordability specialist Bean has announced that is set to be acquired by BGL Group (subject to regulatory approval).BGL Group is a leading digital distributor of insurance and household financial services, and owner of brands including comparethemarket.com and life insurance provider Beagle Street. Bean is owned Saverd, the company behind personal the finance app. Bean’s digital personal finance…
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CYBG has completed the acquisition of Virgin Money, creating the UK’s sixth-biggest bank. Commenting on completing the Virgin Money acquisition, CYBG Chief Executive David Duffy, said “Today marks an historic milestone for CYBG and Virgin Money, creating the first true national competitor to the status quo in UK banking with a clear ambition to provide customers…
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The Competition and Markets Authority (CMA )has decided that the proposed merger between SSE Retail (SSE) and Npower can proceed, following a thorough review. The decision comes after a provisional clearance from the inquiry group of independent Competition and Markets Authority (CMA) panel members, who investigated how the merger would affect householders. The group specifically examined competition concerns around…
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Pepper Money (PMB) has finalised the terms to acquire 100% of the second charge lender, Optimum Credit Ltd, from its current owner Patron Capital, as part of its ongoing UK growth strategy. The purchase, which remains subject to regulatory approval, will see Pepper Money acquire Optimum Credit’s entire business, which includes a UK second charge…
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Law firms Breeze & Wyles and Taylor Rose TTKW have announced that we will merge. Taylor Rose TTKW are a top 200 law firm. In a company statement Breeze & Wyles said “Our clients will continue to receive the same high level of service managed by the same dedicated teams, however, we will no longer be known…
Read moreBusiness services and software managed services specialist Civica Group has acquired case management software specialist iCasework. Based in London, iCasework specialises in SaaS applications for case management, providing cloud software for enterprise complaints management, correspondence management and information request handling including in support of GDPR. Its products are used by more than 100 customers in the…
Read moreEnforcement specialist JBW have announced have acquired Phoenix Commercial. The agreement will create the UK’s second largest enforcement company. The deal follows an acquisition of the shares in Phoenix by JBW, with funding provided by OUTSOURCING Inc OUTSOURCING Inc. is a Japanese listed company with headquarters in Tokyo and has expanded its operations internationally in Asia,…
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