Credit, Collections & Insolvency News
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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Vehicle transportation and credit management firm, Anglia UK, is expanding its operations with the acquisition of an independent haulage provider. Chris Huxtable Vehicle Collection & Delivery will become part of the Anglia group of companies. The move further underlines Anglia’s presence in the vehicle transportation and logistics market where it offers a range of services…
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Aberdein Considine has announced that it is to merge with Edinburgh law firm and solicitor estate agent Russel+Aitken Edinburgh LLP. The combined businesses which will trade under the Aberdein Considine brand, will together employ over 480 staff and have a turnover of more than £32 million. Russel+Aitken Edinburgh LLP, which is based in the West…
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European credit management services provider, Lowell has announced that will acquire Hoist Finance. The transaction includes the operations of Hoist Finance UK and its entire unsecured non-performing loan portfolio, comprising of over 2 million consumer accounts, almost exclusively in the credit card and personal loan sector. The transaction includes the operations of Hoist Finance UK…
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Variious news outlets have reported that open banking specialist, Credit Kudos has been acquired by Apple as it increases its drive into the payments space. Reports suggest that Apple closed the deal with Credit Kudos this week, marking its first move into the UK open banking space, It is predicted that the acquisition could related to a…
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Marston Holdings, a provider of integrated technology-enabled solutions from design through to implementation, management and recovery, has announced it has acquired Grosvenor Services Group (GSG), supplier of specialist services to utilities. GSG will form part of Engage, a technology-driven field services provider that conducts over 50,000 visits to people, businesses and their properties every month…
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Secure Trust Bank (STB’) has announced that it has decided to exit the debt purchase market. STB subsidiary, Debt Managers (Services) (DMS’, has agreed to sell its portfolio of loans to debt purchaser, Intrum UK. The portfolio comprises around 650,000 customer loans acquired from third parties and STB. Intrum will acquire the rights of DMS…
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DataTrace UK, a tracing and contact agency has recently been acquired by The Broadriver Group. Established in 1991, DataTrace UK provides specialist global tracing and information services to local authorities, enforcement agents, educational institutions, utilities companies and those working in the financial sector. The acquisition will further strengthen The Broadriver Group’s portfolio, which includes Controlaccount…
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Global credit data and risk intelligence specialist, Creditsafe has announced the acquisition of Graydon. Graydon has been in operation for over 130 years and has been for the last 5 years a 100% subsidiary of Atradius the leading global credit insurer. Graydon is the market leader in B2B information services in the Netherlands and Belgium,…
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A collective of industry experts from across the consumer credit, debt advice, collections, insolvency, and fintech sectors have joined together to launch ‘debt-tech’ firm Trustfolio which has acquired TIPTrust and Asperitas Technologies. Trustfolio’s mission is to enable better debt solutions and advice through powerful, bespoke technology that makes the process more efficient, cost-effective, and secure…
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