CCR Magazine

You are here  :Home arrow News arrow Cabot Credit Management purchases dlc
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Cabot Credit Management purchases dlc PDF Print E-mail
Thursday, 04 June 2015

Cabot Credit Management (CCM), a leading acquirer and manager of consumer debt, has agreed to acquire Hillesden Securities Ltd, trading as dlc from its parent company Faccenda Investments. dlc is a U.K. based acquirer and collector of non-performing unsecured consumer debt, and represents a significant portfolio purchase for CCM.

dlc at a glance:

•    £3.3b face value of portfolios purchased across 188 portfolios and 1m customer accounts
•    £245m 10 year Estimated Remaining Collections as at 31 December 2014, before CCM scorecard uplifts
•    20 years of UK debt purchase experience
•    £3,562 average account balance
•    300 employees located in Brackley
•    No external debt

The acquisition will be financed largely though existing cash facilities plus a senior secured bridge.

dlc has been purchasing portfolios since 1994 and is the oldest debt purchaser in the UK with a proven track record in both financial and non-financial services assets. The substantial backbook of dlc will enhance and strengthen CCM’s data set. The application of CCM’s non-pay scorecard and experience in these markets will enable an improved liquidation across the business.  dlc has a small but growing Business Process Outsourcing (BPO) platform which CCM will look to grow.

Ken Stannard, CEO, Cabot Credit Management, 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.”

Robin Faccenda, Chairman of Faccenda Investments, said: “We believe this is a very positive step for dlc, in a sector where scale is essential. We recognised the need to identify a new owner that can leverage dlc’s established expertise, and develop the business further and are confident we have found that business in CCM.”

(Source  - CCM Press Release)  

 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197