TowerBrook announces today that it has signed an agreement for Capquest, one of the UK’s leading credit solutions businesses, to be acquired by Arrow Global Group PLC (“Arrow Global”), a leading UK and European debt purchaser, for a total consideration of £158 million (on an enterprise value basis).
The agreement, which is subject to the approval of Arrow Global’s shareholders, brings together the two parties’ complementary expertise to form a larger, integrated group in which both brands will be retained. Capquest has a best in class in-house servicing platform and state-of-the-art collections system, which will be enhanced by Arrow Global’s leadership in data enhancement, analytics and supply chain management.
Helen Ashton, Capquest Chief Executive, commented: “We are delighted to announce an agreement has been reached for Capquest to be acquired by Arrow Global. Our experience in regulated environments, strong reputation for compliance and commitment to socially-responsible practices, together with our understanding of our customers’ needs, makes Capquest an attractive partner for Arrow Global. I believe our combined businesses will create a strong company, well placed to prosper in the current environment.”
Tom Drury, Chief Executive Officer of Arrow Global commented: “Today’s announcement of the acquisition of Capquest reinforces Arrow Global’s position as one of Europe’s leading debt purchase and management businesses. The acquisition positions us well to enhance the quality of our offering to our customers and clients. Bringing together Capquest’s sophisticated and customer-focused in-house collection capabilities with Arrow Global’s master servicing model and leadership in data and analytics is an important step in achieving our vision of being Europe’s leading debt purchaser and manager. It adds a significant portfolio of assets at attractive returns, supports our broad range of origination sources and extends our reach into new asset classes.”
Gordon Holmes at TowerBrook added: “We are pleased to announce that Capquest will be acquired by Arrow Global, a leading UK and European debt purchaser. This will combine the expertise of both companies to create a strong leader in the debt purchase and management industry. We believe Arrow is the right partner to take Capquest forward into the next stage of its development, and are grateful to the Capquest management team for the positive development of the Company during TowerBrook’s period of ownership.”
