Credit, Collections & Insolvency News
The shareholders of First Utility, the UK’s largest independent energy and broadband provider, today agreed to sell the business to Shell. The deal is subject to regulatory and other approvals and is expected to complete in early 2018. The sale will allow First Utility to accelerate growth and develop new innovative customer propositions taking advantage…
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Asset finance provider, Haydock Finance has announced that Apollo Global Management has signed an agreement to acquire a majority shareholding in th company, investing alongside Haydock’s founder and Executive Chairman Jon Wilkinson. The agreement is subject to customary conditions and is expected to close in Q1 2018. Established in 1980, Haydock is one of the…
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AIM-listed specialist independent provider of finance facilities, 1PM has announced the proposed acquisition of MH Holdings (UK) Limited, the holding company for Academy Leasing Limited for up to £12m. Academy Leasing has grown organically since its launch in 1987 to become one of the UK’s leading providers of equipment and vehicle finance. The acquisition will allow Academy…
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Bank of Ireland UK has confirmed, the completion of its acquisition of Marshall Leasing Ltd which will become part of Northridge Finance. Recently named Fleet Leasing Company of the Year 2017 by the Association of Car Fleet Operators, Marshall Leasing Ltd provides a range of contract hire fleet services including fleet management, risk management, contract…
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Collections consultancy, Arum Systems has been acquired a new investment team. The deal was completed a month after Arum released its annual financials. No significant changes are planned for Arum or its management team. Jamie Waller, former CEO of JBW and Hito and the lead investor on the deal said “Arum has a great reputation in the industry…
Read morePersonal insolvency specialist practice, Creditfix has completed the acquisition of fellow Glasgow-based debt solutions provider, Carrington Dean. The sale will see Creditfix become the largest provider of Trust Deeds in Scotland, adding to its position as the largest provider of individual voluntary arrangements (IVAs) across England, Wales and Northern Ireland. Carrington Dean will continue to…
Read moreAdvisory specialist Baldwins, who last year joined CogitalGroup to form part of their international business service group, has announced its largest acquisition to date. The firm is expanding into Scotland with two acquisitions which will see its revenue grow to £89 million. Campbell Dallas, which has offices in Glasgow, Perth, Kilmarnock, Stirling and Aberdeen, employs 260 staff…
Read moreThe merger of Intrum Justitia and Lindorff was completed in June and following from the announcement the company has consolidated the two companies by introducing a new corporate identity and brand name: Intrum. Mikael Ericson CEO and President of Intrum said ”Intrum is the undisputed market leader. This presents new opportunities for growth through joined…
Read moreMarshall Motor has sold its leasing division to Bank of Ireland UK, who will incorporate it into its car and asset finance arm, Northridge Finance. The acquisition of Marshall Leasing is conditional upon Northridge Finance receiving regulatory approval. Established in 1979 and based in Cambridgeshire, Marshall Leasing provides a range of contract hire fleet services…
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RSM Restructuring Advisory LLP Administrators of Debt Free Direct has agreed a sale of the business to Aperture Debt Solutions. Debt Free Direct Ltd, based in Chorley, Lancashire, is an Individual Voluntary Arrangement (IVA) business that delivers debt solutions for individuals across the UK and employs 72 people. The Company was part of the wider Fairpoint…
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Debt Purchaser, Arrow Global Group has agreed term with the potential acquisition of Mars Capital UK and Ireland, a leading UK and Irish mortgage servicing businesses, for an enterprise value of £15.5 million. The acquisition further strengthens Arrow Global’s asset management capabilities, while providing a strategic entry into Ireland, a new market for the Group…
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Tandem has announced that it has agreed on a deal to acquire Harrods Bank, subject to regulatory approval. The deal will bring around £80 million of capital into the business. Once the deal has been completed Tandem can accelerate launch plans and start to offer savings accounts as well as continued development of the app and credit card. The…
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Non-Standard Finance has announced that it has agreed to acquire George Banco from its existing shareholders for an enterprise value of £53.5million, payable in cash. Completion is expected in September 2017 and the acquisition is expected to be earnings enhancing in the first full year following completion. Having launched in April 2014, George Banco has grown rapidly…
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