Lantern Group reaches agreement to acquire Ascent

Lantern Group has announced that it has reached an agreement to acquire specialist debt recovery law firm Ascent from Irwin Mitchell, subject to regulatory approval.

The deal expands Lantern Group’s portfolio of regulated credit and recoveries businesses, which includes Lantern and Sonex.

Ascent is recognised for its experience across collections and recoveries, litigation, enforcement, field services, tracing and loan servicing, delivered through a strongly ethical, customer-centred model. The business will continue to operate independently with its existing regulatory permissions (SRA and FCA) unchanged. Current Ascent COO Hayley Owen will become Managing Director on completion.

The acquisition enhances Lantern Group’s strategic position in the consumer credit and financial services ecosystem, providing clients with deeper capabilities across the full credit lifecycle and creating opportunities for shared innovation between Ascent, Lantern and Sonex.

Paul Mason, Group CEO, said “Ascent brings sector-leading expertise in litigation and recoveries, underpinned by strong regulatory discipline and a customer-first culture. Its capabilities complement our existing portfolio and significantly strengthen our ability to support financial services clients across the credit lifecycle.”

Hayley Owen, Incoming Managing Director for Ascent, said “This marks a positive step forward for Ascent. Lantern Group understands our sector deeply and shares our commitment to highquality, ethically led operations. Their backing provides a powerful platform for our next phase of growth.”