Sale of major Yorkshire business moves on
A PRIVATE equity firm is closing in on a deal to buy Yorkshire’s Callcredit.
Chicago-based GTCR, which owns a number of information services and technology companies, is close to entering exclusive talks to buy the Leeds-based business, according to Sky News.
Callcredit told TheBusinessDesk.com: “The final round of the process has passed, there has been a very strong level of interest in the business throughout the process. Callcredit continues to perform well and we expect the transaction will be concluded shortly.”
Owner of Callcredit, which completed the acquisition of software solutions firm Coactiva last month, Vitruvian Partners, has been hoping to attract a price of around £400m for Callcredit, which it has owned since 2009.
According to Sky, it remains possible that either private equity firm Charterhouse, or Bertelsmann, the German conglomerate, could yet trump GTCR with a higher offer.
Last year, the West Yorkshire private equity-backed firm, which also provides marketing services and analytics for businesses and consumers, signed a lease for an additional 6,000 sq ft at its Park Lane site, meaning it now occupies 65,000 sq ft in the building. It employs more than 900 staff.
In the last set of results announced by Callcredit in May last year, the group reported full year profits of £17.3m with profits from operations increasing 40% on the previous year and revenues increasing by 25% year on year.
