Credit, Collections & Insolvency News
Maclay Murray & Spens announced that it is to combine with Dentons. The combination, which is expected to complete later in 2017 following approval by the partnerships of both firms. The new group will combine operating from offices in Aberdeen, Edinburgh, Glasgow, London, Milton Keynes and Watford. Dentons’ Global Chief Executive Officer Elliott Portnoy said “This combination…
Read more
FRP Advisory has strengthened its north of England operation with the merger into the partnership of BWC, the Yorkshire and Teesside-based, independent, corporate recovery and insolvency specialists, bringing into the group all of its 16 staff including three partners and four directors. Led by founding partners Gary Blackburn and Paul Whitwam, David Willis, Martyn Pullin…
Read moreMoody’s Corporation has announced today that it has received clearance under the EU Merger Regulation from the European Commission to acquire Bureau van Dijk, a global provider of business intelligence and company information. Moody’s announced that it had agreed to acquire Bureau van Dijk on May 15, 2017. In accordance with the terms of the transaction, Moody’s expects the…
Read more
Debt Management specialist MoneyPlus Group has bought Baines & Ernst after it went into administration. FRP Advisory was appointed administrators of Baines & Ernst. The business and assets of Baines & Ernst were then sold, resulting in the transfer of all 80 staff and all its debt solution plans and customer data. Baines & Ernst…
Read moreStar Asset Finance (SAF) has continued its consolidation of the SME asset finance market by completing the acquisition of Credo Holdings. Norwich-based Credo was established in 2005 as an independent provider of asset finance. The company has a growing own-book portfolio, coupled with brokered finance supported by a number of industry funders. Specialising in hard and soft…
Read moreFinTech and regulatory services businessEquiniti Group have announced the acquisition of the Nostrum Group. Nostrum is a provider of end-to-end loan management technology that helps banks, finance companies, and retail brands provide innovative credit solutions to their customers. They deliver services that support the whole lifecycle of lenders’ operations from front-end lead generation and application processing…
Read more
Private Equity Investor Endless LLP has acquired PRAC Financial Limited (“PRAC”) from its private owners. PRAC is a niche debt purchasing business, specialising in acquiring regulated and non-regulated, consumer and commercial debt portfolios. Endless investment has supported PRAC with the purchase of two consumer debt portfolios to date. For both of these acquisitions, PRAC has…
Read more
Cabot Credit Management (CCM) has announced its financial results for the three months ending 31 March 2017. As part of the results, Cabot announced that it has acquired Orbit Debt Collection, a UK based debt contingency business who specialises in the Utilities sector. In addition, Cabot has also obtained regulatory approval for the Irish business, Cabot Financial Ireland,…
Read moreGener8 Finance has announced that it has agreed on terms to sell its invoice finance business to 1pm Plc, a stock market listed provider of asset based lending facilities to the UK SME sector. Asset Finance specialist, 1pm provides asset finance, business loans and related financial products for both hard and soft assets and has…
Read more
Close Brothers has announced the acquisition of Novitas Loans. Novitas is a leading provider of loans to the legal sector and will become part of Close Brothers Invoice Finance and Rentals, led by David Thomson. Novitas specialises in providing working capital for law firms and also loans to their clients purchasing specific legal services, from divorce…
Read moreA new credit union office has opened in Kendal The newly re-branded Penrith Office of Eden & South Lakeland Credit Union will open soon. It has come about following the successful completion of a merger between South Lakeland Credit Union and EdenSave Credit Union. Adrian Rush, Chair of Eden and South Lakeland Credit Union said “This…
Read moreOxygen Finance has tannounced the acquisition of Satago. The transaction will see the businesses working together to offer comprehensive early payment, finance and cash flow solutions for both large buying organisations and suppliers of all sizes, including SMEs. Oxygen provides the capability for large public and private sector organisations to pay suppliers ahead of contracted…
Read more
Wonga will confirm that it has decided to offload BillPay, one of its most valuable units, to Klarna, a Swedish provider of e-commerce solutions according to Sky News. Klarna operates in Austria, Germany, the Netherlands and Switzerland. The deal will take place this week and will be worth about £60 million. Talks between Wonga and…
Read more