Moneyplus completes four deals in four months
MONEYPLUS Group has completed four deals in as many months following a buy-out funded by Palatine Private Equity in June.
The Altrincham-based company has bought the customer back books of Manchester-based debt manager Byrom & Keeley and of Old Trafford-based Debt Solver. It has also bought Cardiff-based Easier Debt.
No financial details for the deals have been disclosed, but MoneyPlus Group (MPG) has said the deals will add around 5,000 debt management and IVA clients to its books. It now employs over 160 people.
Chris Davis, CEO of MPG, commented: “The last four months have been a busy period for all at MPG. We are delighted to have completed the four acquisitions in just over four months and have already integrated all the consumers onto our platform.
“We are particularly pleased with the acquisition of EasierDebt, which, as founder members of DEMSA, is one of the most respected companies in our sector.”
Ed Fazakerley, partner at Palatine Private Equity, said: “When we backed the management buyout of MPG, the strategy was to grow the business both organically and via acquisitions.
“We are delighted that the team has been able to complete and integrate these deals so quickly and there are a number of further acquisition opportunities currently being considered.”
DWF provided legal advice to MPG on all of the deals, while Dow Schofield Watts carried out the due diligence work on target firms.
