Listed home credit firm completes second acquisition in less than a month

An AIM-listed West Yorkshire home credit provider has acquired home collected credit lender, Hays Credit LLP, for an undisclosed sum.

Batley-headquartered Morses Club, the UK’s second largest home collected credit lender, said the acquisition further expands its “core home collected credit business in the North East of England.”

Hays is a family-run business which has been operating since 1957, providing loans to approximately 2,700 customers across the North East of England.

Hays has balances of approximately £1.6m, is regulated by the Financial Conduct Authority and is a member of the Consumer Credit Association.

Morses Club also recently announced the acquisition of Eccles Savings & Loans Limited, the North West-based home collected credit business with 3,000 customers.

Paul Smith, CEO of Morses Club, said: “I am delighted to announce this acquisition and welcome Hays’ customers to Morses Club. Hays is a high-quality business and further expands our offering for clients in the North East.

“Home collected credit is the fundamental core of our business and our recent acquisitions demonstrate our commitment to both continuing to grow our home collected credit capabilities, as well as diversifying our broader online product offering”.