Credit, Collections & Insolvency News
The Competition and Markets Authority (CMA) has raised competition concerns over the merger of Bottomline and Experian Payments Gateway (EPG) Both companies provide payment software used by businesses every day to submit direct debits, run payroll and pay suppliers. This directly connects to the UK’s Bankers’ Automated Clearing Services (Bacs) scheme Bacstel-IP service and Faster…
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Begbies Traynor Group has acquired Exeter-based advisory practice Regeneratus Consulting 1, the deal is Begbies Traynor’s third acquisition this year. In March, it acquired the Newcastle upon Tyne insolvency practice, KRE Corporate Recovery, and in June it bought up Dunion & Co, an insolvency firm in Stoke on Trent. Regeneratus, which was founded in 2016…
Read moreSSE has announced that it has entered into an agreement to sell its SSE Energy Services business to Ovo Energy at an enterprise value of £500 million comprising £400m cash and £100m in loan notes, Alistair Phillips-Davies, Chief Executive of SSE, said “We have long believed that a dedicated, focused and independent retailer will ultimately…
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Sovereign Capital Partners, the private equity Buy & Build specialist, has announced that portfolio company Bristow & Sutor, the nationwide judicial services and debt recovery group, has acquired debt collection agency (DCA) Credit Style. Bristow & Sutor was acquired by Sovereign in a management buy-out of the business in June 2017. Established in 1977 and…
Read moreMidcounties Co-operative Energy (Co-op Energy) and Octopus Energy have announced a new partnership. The deal struck between Octopus and Co-op Energy will see the former acquire 300,000 more customers, with Co-op Energy retaining the brand. As part of the deal, the Co-op Energy brand will be retained and Octopus will take on ownership and responsibility…
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Global technology company, Pitney Bowes, a provider of solutions for e-commerce, shipping, mailing, data, and financial services, has announced that it has entered into a definitive agreement to sell its software solutions business to Syncsort for $700 million in cash. The transaction is expected to close before the end of the calendar year, pending regulatory…
Read moreNon Standard Finance (NSF) posted a pre-tax loss of £22.8 million in the six months to the end of June. The decline was driven by a £12.7m charge related to its attempt to buy rival subprime lender Provident Financial. Profits were down 790% compared to the previous year, reported pre-tax losses dropped from the £2.5…
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Wilkin Chapman Solicitors has completed the take-over of Silke and Co, a Doncaster-based business solutions company. In acquiring Silke & Co., Wilkin Chapman solicitors will be expanding its work in the area of recoveries – a team headed up by Partner Chris Grocock. The new Doncaster branch will be known as Wilkin Chapman Business Solutions…
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Energy company SSE says it is negotiating the sale of its energy retail business to Ovo Group. In a company statement, SSE said “SSE is actively progressing a number of options for the future of SSE Energy Services, having determined that its best future lies outside the SSE group. In line with this, and noting…
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Berlin-based fintech start-up Bonify has announced new investments from Experian Ventures, the venture capital arm of Experian plc, and Santander InnoVentures. A number of other investors also participated in the investment round. Bonify, founded in June 2015, is dedicated to improving the financial lives of its users, the company users can check their creditworthiness online…
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Home collected credit lender, Morses Club has announced that it has acquired U Holdings through its subsidiary Shelby Finance. Morses Club says the acquisition of U Account is an important step in the company’s strategy of building a digital offering to allow its customers to access credit flexibly in a significant growth segment of the…
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After over thirty years of private ownership, Phoebus Software (PSL) has concluded a management buyout (MBO) backed by NorthEdge Capital. NorthEdge is a private equity firm that supports MBOs, development capital and equity release transactions for companies based in the Midlands and the North of England. PSL is based in Solihull, West Midlands. The transaction…
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Corporate recovery and professional services business, Begbies Traynor has announced that it has acquired Stoke on Trent insolvency practitioners, Dunion & Co. Dunion & Co was established in 2008 and provides the full range of corporate recovery services to businesses across Staffordshire, Cheshire and beyond, under the terms of the deal the company will remain…
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