Intrum UK acquires Capquest and Mars UK platforms from Arrow Global
Credit management services company Intrum has completed the acquisition of the Capquest and Mars UK servicing platforms from European fund manager Arrow Global. The deal also includes a portfolio investment of 50 per cent of Arrow’s UK unsecured consumer back book portfolio, for a cash consideration of £92M.
The purchase means Intrum has taken over outsourcing contracts with several tier 1 financial institutions as well as the ongoing servicing of the Arrow UK consumer back book. It forms an important part of Intrum’s UK expansion plans, following significant growth in third party servicing over recent years.
The acquisition includes around 800 roles, as well as two Glasgow servicing centres and premises in Manchester. The deal, which was announced in November, has been approved by the Financial Conduct Authority.
“We are delighted to welcome our new colleagues, in a move that will significantly expand the breadth and depth of services we can offer existing and new clients,” said Intrum Managing Director for the UK and Ireland Eddie Nott.
“The acquisition increases our footprint in early arrears servicing and adds secured servicing capabilities to our current offer of Portfolio Investment and Early Arrears Servicing. It is a key part of our growth strategy and ambitions in the UK.”
Ian Davies, Client and Sales Director for Intrum UK and Ireland, said the team is looking forward to being able to offer an even greater range of services and adding capacity at a time when many institutions are seeking outsourced solutions focused on enhancing capabilities and customer service standards.
“The cultures of the two businesses are extremely compatible when it comes to the ethical treatment of people in debt. We are looking forward to growing the business together.”