CCR Magazine

Hoist Kredit AB (publ), a leading pan-European debt-restructuring partner to international banks, has acquired Compello Group, one of the fastest growing Debt Purchase companies, to further strengthen its UK presence.

The announcement builds on the acquisition in 2012 of the Manchester-based Robinson Way Limited, and Leeds-based the lewis group in 2013.

Najib Nathoo, Head of Hoist Finance UK, believes that Compello Group is an obvious partner: “The acquisition of the Group, its proven collections platform and its people further increases our reach and operational capacity and underpins Hoist Finance’s market position with our core UK banking clients,” he says.

“The company’s commitment to treating customers fairly (TCF) and adherence to best practice in compliance is similarly in line with our own business culture. The acquisition is further evidence of our commitment to becoming a dominant force in debt purchase and financial restructuring in the UK.”

In acquiring the Group, Hoist has also acquired a portfolio that comprises of more than one million banking claims originated by 19 different financial institutions. The portfolio has approximately £218 million 10-year Estimated Remaining Collections as at 30th June, 2015.

Reputation and compliance combined with a local presence are becoming increasingly important success factors for debt purchase and management in the UK market: “We believe we have a unique and credible proposition, and have already developed deep relationships with a large number of UK creditors and agencies that further strengthen that credibility,” Najib concludes.

Hoist offers a full spectrum of advanced solutions for successful management of defaulted consumer receivables, adhering to the central values of treating customers correctly and delivering to the particular needs of its clients.

(Source - Hoist Press Release)