JBW Group Limited has today announced it has fully acquired the shares of Phoenix Commercial Collections Limited, with funding provided by OUTSOURCING Inc.. Phoenix will continue to be managed separately to JBW and will retain its brand and management team, led by Managing Director, Paul Caddy.
Caddy commented: “This is an exciting market development with the combined business now representing the second largest service provider within the UK enforcement sector and with it, we are taking the opportunity to achieve our strategies much faster together.
The coming together of our two companies follows detailed discussions which commenced in 2017. It was clear from those discussions that both JBW and Phoenix share a common vision for the industry and the future of enforcement that places intelligent customer service, performance delivery and high ethical and professional standards at its core.”
Nick Tubbs, JBW Chief Executive commented: “We are delighted to welcome Phoenix to the JBW Group and OUTSOURCING Inc. family. While our two businesses will continue to be managed separately, and will retain their existing brands, there will be close collaboration and additional investment, and our increased scale will enable us to provide greater opportunities for our employees. Through the combination of complementary skills and teams, we will be able to offer a broader range of services to benefit our clients whilst accelerating best practice across both organisations. This transaction combined with our recent acquisition of shares in Court Enforcement Services demonstrates JBW Group’s commitment to providing a full breadth of intelligent, highly ethical debt collection solutions to our private sector, local and central government clients nationwide.”
As part of this announcement, Howard Jones and Fred Ternent, the founders of Phoenix will retire from the business.