Mon, 16 Dec 2013 | BUSINESS SALE
MoneyPlus Group, a debt advice firm headquartered in Manchester, has bought Debt Movers in Bromborough.
Backed by Palatine Private Equity, the company has made several acquisitions of late, following a management buyout in 2011.
Chris Davis, chief executive of MoneyPlus commented on the latest purchase: “We have worked with Debt Movers for some years and have always admired the way in which they operate and most importantly how they treat the consumers that they act for.”
He added that the acquisition “underlines how MoneyPlus is able to identify and complete on potential targets which are of interest to us, and which will enable us to further our standing in the sector”.
Ed Fazakerley, partner with Palatine and non-executive director with MoneyPlus, said that the acquisition brings the total number of acquisition deals to eight during the time of Palatine's investment. He added: “The company is experiencing significant growth and continues to strengthen its offering in the financial and legal services market through its buy-and-build strategy.”
Legal advice on the business deal was provided by Frank Shephard and Lucy Shenton from DWF. Meanwhile, due diligence – both financial and commercial – was conducted by Chris Williams from Dow Schofield Watts Transactional Services. The price attached to the business sale has not been revealed.
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