Another acquisition for MoneyPlus
CONSUMER debt solutions provider MoneyPlus Group has bought a Midlands firm.
MoneyPlus, backed by Manchester private equity firm Palatine, has acquired Solihull-based Personal Touch Debt Solutions from Personal Touch Financial Services for an undisclosed sum.
The deal is the sixth since Palatine backed a management buyout at MoneyPlus in July 2011. The new business is being merged with Blackburn-based Debt Free Me which was acquired in September.
MPG now employs more than 190 people and recently moved from its Altrincham base to new offices in Manchester city centre.
Chief executive Chris Davis said: “Personal Touch Debt Solutions is a recognised brand within the mortgage network market and has built up an enviable reputation with both brokers and consumers alike.”
Ed Fazakerley, partner at Palatine Private Equity, said: “Our strategy has always been to grow the business both organically and via acquisitions. We are very excited about the latest deal with Personal Touch. We are also looking at a number of further acquisitions to support this strategy in the future.”
Chris Williams from Dow Schofield Watts provided due diligence advice on the acquisition, with Frank Shephard, Victoria Barker and Lucy Shenton from DWF providing legal advice to MPG.
