Bluestone Credit Management, the financial services firm owned by a consortium including private equity firm LDC and Australian bank Macquarie, has acquired specialist UK debt collection agency Empingham Limited for an undisclosed amount.
Sheffield-based Empingham has 150 staff focusing on debt collection on asset financing types including car and equipment loans, commercial debts, outstanding tax payments, personal loans, utility payments and shortfall accounts.
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A statement released by Bluestone said Empinghams’s founder and chief executive officer Mark Bailey will join Bluestone’s senior team as national sales director.
Mark Bailey said; "I am delighted that Empingham will become part of the Bluestone Group and strongly believe that being part of a bigger organisation will allow us to further enhance our levels of service and performance to existing clients".
Ken Maynard, who recently joined Bluestone as managing director said; "The acquisition of Empingham is an important step forward in the expansion of Bluestone in the UK credit market and our plans to become a high profile quality player in a number of key sectors."
Bluestone, which recently expanded its offices in Sheffield, will continue to operate the Empingham brand.
Bluestone said it planned to use the Empingham acquisition as an opportunity to grow its business, with the possibility of further acquisitions.
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By GlobalDataAlistair Jeffery, executive chairman said; "This is the first of what we hope will be a number of strategic acquisitions in this market. The sector is ripe for consolidation and we expect to continue our expansion through a combination of acquisition and organic growth. The acquisition of Empingham and involvement of Mark and his team is an important element of our expansion strategy".
