{"id":2121158,"date":"2023-09-20T06:59:19","date_gmt":"2023-09-20T05:59:19","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/northwest\/?p=2121158"},"modified":"2023-09-20T07:00:27","modified_gmt":"2023-09-20T06:00:27","slug":"perch-group-secures-90-million-combined-funding-package-to-enable-next-stage-of-growth","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2121158-perch-group-secures-90-million-combined-funding-package-to-enable-next-stage-of-growth","title":{"rendered":"Perch Group secures \u00a390 million combined funding package to enable next stage of growth"},"content":{"rendered":"

Blackpool-based Perch Group, a debt purchase, collections, litigation and reconnection business, has secured fresh new capital from a new NatWest-led banking syndicate.<\/span><\/p>\n

Over the last 12 months, Perch Group has seen a 44% increase in the number of accounts purchased, a 38% increase in the face value of purchased debts, and a 40% increase in the number of clients it has served.\u00a0<\/span><\/p>\n

The consortium providing \u00a390m worth of funding includes Hampshire Trust Bank, and a material enhancement and increase of the existing arrangement with Quilam Capital which supported Perch Group\u2019s management buy-out (MBO) in April 2022.\u00a0<\/span><\/p>\n

Perch Group, which offers market-leading, data-led, omni-channel services across the whole debt lifecycle through its debt purchaser Perch Capital, debt resolution agency ACI UK, and litigation firm TM Legal, recently launched new field services company, Verify. The new business aims to revolutionise the way creditors such as utility companies verify data and reconnect with customers in arrears.\u00a0\u00a0<\/span><\/p>\n

Mark Pickup, Perch\u2019s Chief Financial Officer, called the deal \u201c<\/b>a momentous milestone for Perch Group\u201d and said it bolstered their aspirations in the UK’s debt purchase sector. \u201cIt not only equips our Group with substantial debt capacity but also augments our competitive edge,\u201d he said.<\/span><\/p>\n

\u201cWe are delighted to be working with NatWest and Hampshire Trust Bank while continuing our existing relationship with Quilam Capital. Their support and endorsement underscores our significant progress since the management buy-out and affirms their confidence in our capacity to successfully execute our ambitious next-phase initiatives.\u201d\u00a0<\/span><\/p>\n

Quilam\u2019s director Alex Scott added:\u00a0 \u201c<\/b>Given the underlying performance of the company since we supported the MBO last year, it made complete sense to upsize and enhance our commitment as they enter the next phase of their exciting growth plan.\u201d<\/span>\u00a0<\/span><\/p>\n

Fieldfisher LLP provided legal advice and Chris Patrick provided debt consultancy to Perch Group; Travers Smith LLP advised Quilam Capital; and Ashurst LLP advised NatWest and Hampshire Trust Bank.\u00a0<\/span><\/p>\n

Quilam Capital provides flexible investment for alternative finance companies, fintechs and platforms.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Blackpool-based Perch Group, a debt purchase, collections, litigation and reconnection business, has secured fresh new capital from a new NatWest-led banking syndicate. 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