Hoist Finance enters agreement to acquire Azzurro

Hoist Finance has announced that it has entered into an agreement to acquire UK debt purchaser Azzurro Associates, a specialist in SME Non-Performing Loans (NPLs), with a portfolio book value of £200 million.

Under the agreement, Hoist Finance is to acquire the UK operations and assets of Azzurro, including its FCA-regulated entity, from the current owners, US investment manager Elliott Investment Management and several Azzurro senior executives.

Founded in 2017, Azzurro is a highly regarded, specialist debt purchaser and servicer with a client base that includes high street banks and financial institutions. The company has three operational centers in the UK, in Southampton, Northampton and Manchester, with approximately 180 FTEs.

Harry Vranjes, CEO of Hoist Finance said “The acquisition of Azzurro will add additional skills and capacity to our operations in the UK. Azzurro is focused on the crucial SME-segment, where we see significant growth prospects. We will be looking forward to continuing to work with all Azzurro’s clients and partners, and to welcoming the Azzurro team to Hoist Finance. The UK is one of our growth markets and this acquisition creates a robust platform for further expansion in the years ahead.”

Andrew Birkwood, Founder and Group CEO of Azzurro, said  “After a successful 8-year partnership with Elliott, this transaction marks an exciting new chapter for Azzurro. Hoist Finance brings scale and a strong long-term approach that complements our culture and the way we work with clients and partners. I’m proud of what the team has achieved since 2017 and we look forward to building an even stronger platform together.”

The acquisition is subject to customary conditions and regulatory approvals and is expected to be completed in 2026. Hoist Finance has been active in the UK-market since 2010.