Winterhill Largo buys debt collection firm
WINTERHILL Largo has acquired corporate debt collection firm Sovereign Credit Management (SCM) for an undisclosed sum.
Asset recovery and insolvency support group Winterhill Largo, which is based in Blackburn, said the move was a “significant milestone” in its strategy to become the market leading provider of corporate debt collection and debt verification for financial institutions and corporate clients.
Based in Horsham, West Sussex, SCM provides its services to banks, invoice financiers, asset based lenders and insolvency practitioners.
The company, which employs 10 people, also provides outsourced credit control and collection services to corporate clients.
Neil Duckworth, Winterhill Largo’s chief executive, said: “We are thrilled with the acquisition of SCM, which significantly expands our own client base and provides us with access to SCM’s fantastic on-going relationships, particularly in the invoice finance, ABL and banking sectors.”
SCM’s managing director, Sarah Hatswell, said: “The acquisition of SCM by Winterhill Largo is an exciting development for the company. It provides us with the depth of resources we need to further develop our offering of market-leading debt verification and debt collection services to our ever growing client base.”
SCM will trade under the name Winterhill Sovereign and its existing management team will remain in place following the acquisition. SCM was advised by Mike Grieshaber of MLG Associates.
The acquisition of SCM now sees Winterhill Largo operate from six UK offices in London, Blackburn, Manchester, Liverpool, Wakefield and Horsham, in addition to five overseas offices. It employs more than 70 staff.
