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MoneyPlus Group confirms acquisitions 16 November 2011

More than 5,000 IVA and debt management cases have been added to MPG’s books after the Palatine-backed MBO in June.

It has acquired three customer back books, including those of Manchester-based Byrom & Keeley and Debt Solver.

Further acquisitions

MPG has also acquired Wales-based EasierDebt, which operates from its Cardiff base as part of MPG.

Altrincham-headquartered MPG now boasts more than 160 staff and offers a range of debt management plans and IVAs.

Ed Fazakerley, partner at Palatine Private Equity, said: "When we backed the management buyout of MPG, the strategy was to grow the business both organically and via acquisitions.

"The team has been able to complete and integrate these deals so quickly and there are a number of further acquisition opportunities currently being considered."

Busy period

And Chris Davis, CEO of MPG, added: "The past four months have been a busy period for all at MPG.

"This activity underlines the ability of MPG to identify, negotiate and complete successive successful acquisitions.

"As such, we are continuing to work with Palatine to achieve our growth strategy and ultimately become one of the largest companies in our sector."

Chris Williams, from Dow Schofield Watt, provided due diligence advice on the acquisitions, while Frank Shepherd from DWF provided legal advice to MPG.

Meanwhile, MPG has confirmed it plans to extend its consumer offerings by moving into insurance and legal services.

By Andy Pearce

 

 

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