Credit, Collections & Insolvency News
Weightmans and Ward Hadaway have issued a joint statement addressing merger discussions: “The legal market is changing and it is always sensible to look at opportunities that might benefit a business, its clients and its staff so Weightmans and Ward Hadaway are currently talking to each other to see if there are benefits of working…
Read moreGateway2Finance has revealed that it has been acquired by Equiniti Group PLC. The acquisition of the Halifax-based loan brokerage is expected to support Equiniti Group’s strategy to promote loan, mortgage and technology solutions to meet the requirements of the fast-moving credit marketplace. Paul Woodworth, managing director of Gateway2Finance.“Everyone within Gateway2Finance is delighted with the move…
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Specialist Home Credit Collector (HCC) lender Morses Club has announced the acquisition of Shelby Finance a provider of online instalment loans. Shelby Finance is fully authorised by the FCA to provide online instalment loans and will operate as a subsidiary of Morses Club. Morses Club state that the acquisition is an important strategic development as…
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Target Group has announced the purchase of the operating business of Commercial First. Commercial First are a provider of commercial and residential mortgage servicing, due diligence and property valuations for clients ranging from blue chip banks and fund managers to private equity and mortgage securitisations. Established in 2002 and based in Skipton, Commercial First provides…
Read moreDFC Global the owner of Dollar UK which includes the Money Shop brand has been put up for sale amid a squeeze on profits following payday fee caps, according to Sky News sources. DFC Global has appointed the US investment bank KBW to sound out potential buyers for the business. Dollar UK brands also include the…
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The Competition and Markets Authority (CMA) has found that Mastercard’s acquisition of VocaLink gives rise to competition concerns. Mastercard UK Holdco Ltd, a subsidiary of Mastercard International is buying VocaLink Holdings Ltd (VocaLink). It already owns and operates credit and debit card schemes Mastercard, Maestro and Cirrus, and has also bid to supply infrastructure services…
Read morehttp://www.cityam.com/255938/lloyds-banking-group-snaps-up-bank-americas-mbna-credit
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Arrow Global Group has announced that it intends to enter the Italian market having agreed terms to acquire Zenith Service SpA (‘Zenith’), a leading servicing business in the Italian structured finance market, for an enterprise value of €17m. The transaction is subject to regulatory approval by the Bank of Italy. Zenith has a strong and…
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Castle Trust Capital plc (CTC) has entered into an agreement to acquire Omni Capital Retail Finance Limited “Omni Capital). Completion of the transaction is expected during the first quarter of 2017 and is subject to the approval of the Financial Conduct Authority. Sean Oldfield, CTC’s chief executive officer, said: “The Omni Capital Retail Finance business…
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Shoosmiths has announced its move in to the Northern Ireland legal market following its merger with Belfast firm, McManus Kearney. Founded in 1987, McManus Kearney has specialist expertise in debt and insolvency matters in Northern Ireland. The firm will be known as ‘Shoosmiths’ from today, and its two partners – Mary Frances Kearney, Jason Byrne…
Read moreThe partners of Addleshaw Goddard and HBJ Gateley (HBJ) have voted “by an overwhelming majority” to merge their businesses, creating the UK’s 15th largest legal firm. The merger, which will see HBJ’s business, people and partners transfer to Addleshaw Goddard by June 1st 2017, will “deliver stronger client and sector offerings across the whole of…
Read moreSevern Trent has announced it will acquire rival water company Dee Valley Water in a deal worth £78.5 million. Severn Trent operates in neighbouring of Dee Valley Water areas in England and Wales. It will pay 1,705 pence in cash per share for the company, which supplies approximately 62 million litres per day to more than 258,000…
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Intrum Justitia has entered into an agreement to acquire 1st Credit, a mid-sized purchased debt company in the United Kingdom. The purchase price on a cash and debt free basis is about £130 million, attributable to a diversified portfolio of receivables, deriving from investments from several sellers in the financial industry. 1st Credit generated earnings…
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