Cabot Credit Management, based in Kings Hill has added another acquirer and collector of non-performing unsecured consumer debt to its portfolio.
The credit management company has strengthened its services with the acquisition of Hillesden Securities Ltd, trading as dlc from its parent company Faccenda Investments.
Dlc is one of the oldest debt purchasers in the UK, having established itself with a track record in both financial and non-financial services assets since 1994.
The acquisition has largely been financed though existing cash facilities, along with a bridge loan.
Cabot Credit Management has purchased the dlc Brackley office, and will take on the 300 employees located there.
CEO at Cabot Credit Management, Ken Stannard, said: “This purchase of dlc and its portfolios is a natural part of the ongoing consolidation in the UK debt purchase market, and takes Cabot’s 120 month ERC closer to £2 billion.
“The purchase of dlc’s portfolio represents an opportunity to bring on board a large number of portfolios in a single purchase, as well as adding exciting new BPO capabilities. We see substantial uplift opportunity to dlc’s ERC through leveraging CCM’s enhanced non-pay strategies and scorecards. We look forward to welcoming the dlc management team and employees to the CCM group.”
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