Credit, Collections & Insolvency News
Solaris Law, part of the Azzurro Group, completed the acquisition of Shoosmiths’ business-to-business recoveries division (in England & Wales), formally merging the two teams and moving to modern new offices on the Solent Business Park, Whiteley.
The announcement is the first part of a two-part transaction that will ultimately lead to Solaris Law becoming one of the largest commercial and consumer collections and legal debt recovery businesses in the UK. This will follow once the acquisition of Equivo’s Legal Services division receives its expected regulatory approvals later in the year. Equivo’s Field Team and High Court Enforcement Business will not form part of the new business, and will continue to operate under the Equivo brand.
Karen Bulgarelli, COO & Director at Azzurro and CEO of Solaris Law, said: “Our ambition is to make Solaris Law a genuine market-leader with a business built on delivering data-driven, customer focused recovery strategies that lead to good customer outcomes and an exemplary client experience.
“From early and live collections and recoveries to litigation and beyond our teams will be able to deliver the full suite of services for creditors,” she adds, “and with the knowledge that they are working with true sector experts and experienced legal professionals with more than a hundred years’ experience between them.”
Once the second stage of the acquisition is completed, Shoosmiths Banking & Finance partner, Mel Chell will step in to lead the Consumer business and at this point the team will comprise approximately 150 employees across three sites: Southampton, Northampton and Manchester.
Chell said: “We are excited about the opportunities this transfer brings. Moving to Solaris Law and merging our teams will allow us to enhance our services and continue delivering exceptional results for our clients. I am personally looking forward to joining Solaris and contributing to our shared success.”
