Credit, Collections & Insolvency News
Debt purchase, collections, litigation and reconnection specialist, Perch Group has announced that it has completed a £210 million funding package to support its next stage of growth. This package comprises £105 million of initial commitments with the ability to scale as the Group continues its growth journey.
The transaction sees Shawbrook Bank and Paragon Bank join Hampshire Trust Bank in the existing NatWest-led banking senior syndicate which, along with Quilam Capital, provided a combined £90 million facility in August 2023. The now expanded funding package will facilitate the next stage of Perch Group’s ambitious growth plans as a full-service credit management leader.
Mark Pickup, Perch Group’s Chief Financial Officer, said “The expanded funding facilities, now incorporating Shawbrook and Paragon Bank alongside NatWest and Hampshire Trust Bank, while continuing our existing relationship with Quilam Capital, not only equips us with substantial further debt capacity but demonstrates these new stakeholders’ clear endorsement of and confidence in our ability to deliver our vision to lead the UK debt purchase and collections industry.”
Tony Williams, Director – Structured Lending at Paragon Bank, said “Paragon Bank is delighted to be supporting the Perch Group. Our lending commitment will help contribute to the Group’s strategic vision to lead the UK debt purchase and collections industry. Paragon Bank congratulates the management team on successfully executing this enlarged lending facility; an important milestone to support their future growth ambition and the needs of their customers.”
Ismail Farhat, Director – Structured Finance at Shawbrook Bank said “We are delighted to join this industry-leading facility, which has observed impressive growth since inception in August 2023. Shawbrook foresee a prosperous and collaborative future supporting Perch’s growth ambitions as part of this new financing package which enables the Group in meeting the needs of its current and future clients.”
