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Arrow acquires Capquest for £158m


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Debt purchaser Arrow Global has acquired the business of Capquest, creating a combined entity with some £1.1bn in 120-month Estimated Remaining Collections (ERC).

 

Capquest was purchased with an enterprise value calculated at £158m, a figure representing 70% of its £224m 120-month ERC, and 4.6 times its last reported 12-month EBITDA of £34m.

 

Speaking exclusively to Credit Today, Arrow Global chief executive officer Tom Drury said the deal, which has “moved fairly quickly” since its inception earlier this year, has made Arrow the second debt purchase business in the UK to achieve a 120-month ERC of more than £1bn.

 

Drury commented it was “Important to maintain scale in a consolidating market”, adding that the purchase would also develop Arrow’s business model through use of the “strong and compliant” Capquest platform.

 

2013 saw Capquest undergo significant technological investment and a full rebrand under the leadership of chief executive Helen Ashton, who will join the Arrow leadership team.

 

Arrow intends to put more of its own business through the Capquest platform; while Arrow currently outsources all collections, the addition of the CapQuest platform will lead to 40% of Arrow’s collections work being conducted in-house, with the remainder outsourced “in the traditional Arrow way”.

 

While Capquest’s offices in Glasgow and Farnborough will be retained, with increases in headcount planned for both, it is not known whether all of its management team will remain in the business, due to duplication of roles.

 

The deal is expected to broaden Arrow’s appetite for different types of portfolios, a trend already demonstrated by its purchase of student loan books.

 

“From an origination point of view, Capquest is active in some asset classes we don’t currently operate in” Drury commented, making specific mention of the motor finance market, where Capquest recently acquired the remaining book and business of subprime lender BCT.

 

The acquisition will add 2.8 million customer accounts to Arrow’s current total of 5.4 million (although some crossover is expected), while a combination of removing duplicated overhead costs and platform optimisation is expected to realise operational savings of £6.5m for the combined business.

 

Last month, Arrow Global reported interim results for the six months to 30 June, including core collections up 10.9% year-on-year to £69.3m, and adjusted EBITDA up 10.6% to £48m. A maiden interim dividend of 1.7p per share was declared, while portfolio purchases in Portugal increased 120-month ERC 27% to reach £827.3m.

 

The acquisition of Capquest by Arrow is the latest in a string of major acquisitions in the debt purchase market: in February, Cabot Credit Management acquired rival Marlin Financial Group, while US-based Portfolio Recovery Associates (PRA) acquired Aktiv Kapital.

 

Published 24 September 2014

 

http://www.credittoday.co.uk/article/17410/online-news/exclusive-arrow-acquires-capquest-for-158m

NEVER telephone a DCA

If a DCA rings you, refuse to go through the security questions & hang up!

 

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Have merged your thread Stig with the one by rebel11 as they are both the same subject.

 

Thanks Conniff,

 

My major concern in these acquisitions is that these DCA's are now becoming a Corporate monster.

 

They are now backed & funded by Investment Companies that their only concern is balance sheets & ultimately dividends for their shareholders/investors.

 

This will lead in the future to them working with the Government to shape debt collection laws & practises, thus leaving the debtor with very little rights to challenge the legitimacy of any alleged debt.

 

Stigman

NEVER telephone a DCA

If a DCA rings you, refuse to go through the security questions & hang up!

 

If I have helped you, click on the star & say thank you

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If Cabot has bought Marlin can marlin still seek monthly payments, as paying marlin each month.... I'm also paying Capquest on a monthly basis for two accounts, if capquest has been bought, are capquest still to be paid same as marlin, or shall I stop PAYMENTS UNTIL I HEAR FROM NEW COMPANIES...... thanks

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Just had an up and downer with Crapquest. had 25 calls from Capquest over the last 2 days many silent; answered one today, some muppet asking for a wench who has never been associated with my llandline number.

 

The drone was most upset when i told him i would be initiating a complaint wiith the FCA regarding their calls as my number which I have had for 18 years was benig abused by a bottom feeder DCA regarding a debtor with no connection to it. Told the drone that I would be turning up at his office with a film crew to fiilm their response to my complaint. He got shirty so i told him he was a expletive deleted and told him to get the police to arrest my sorry jive ass for abusing him. he said he doesn't have my address, so i offered to give it to him so he could send the police to arrest me for abusing him and causing undue distress., so i could have a holiday from their spurious calls and get their muppetry in the press. At that point he got all apologetic. what a cretin.

 

Phoned them back on a witheld number, and a supervisor said she would remove my number from that debtor's records. Told them that one more call and I would initiate action for harassment contrary to the law. Come on 25 calls in 2 days, and I am not even the debtor they want. A pox and jihad on you Crapquest, by the way I am not joking about turning up with a film crew so hope you are ready for me you muppets, you are going to be on YouTube and I hope it goes viral.

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PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

 

The bailiff: A 12th Century solution re-branded as Enforcement Agents for the 21st Century to seize and sell debtors goods as before Oh so Dickensian!

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If Cabot has bought Marlin can marlin still seek monthly payments, as paying marlin each month.... I'm also paying Capquest on a monthly basis for two accounts, if capquest has been bought, are capquest still to be paid same as marlin, or shall I stop PAYMENTS UNTIL I HEAR FROM NEW COMPANIES...... thanks

 

 

I hope you've sent a CCA request on all these debts you are paying to DCA's?

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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