Apex Credit Management and Cabot Financial launch new Group brand
Cabot Credit Management is the new name for the combined business following the acquisition of Cabot Financial by AnaCap Financial Partners and the subsequent merger of Cabot with Apex Credit Management in April 2011. The new, enlarged Group is now the UK’s leading acquirer and manager of consumer debt.
Confirmation of the new Group name follows the announcement that it has increased its three year banking facility to £200 million as West LB joins the syndicate alongside RBS, Barclays and Citigroup. The increased funding lines allows Cabot Credit Management to continue to trade as normal with their existing partners and in addition enhances the Group’s ability to seek out larger strategic deals in the consumer debt market.
Cabot Credit Management will continue to focus on its core specialist services through the independent brands:
- Debt purchase – Cabot Financial
- Contingency collections – Apex Credit Management
- Customer tracing – Apex Discovery Solutions
A key aspect of the Group’s commitment to these core activities is the emphasis placed on an ethical approach to their dealings with customers.
Neil Clyne, Group Chief Executive of Cabot Credit Management, comments:
“The approval of our new Group name is the latest step towards combining the complementary business visions of both Cabot Financial and Apex Credit Management. The new enlarged Group aims to create long term and sustainable growth by taking advantage of the economies of scale that we now benefit from as a result of the recent acquisition.
“We pride ourselves on our commitment to providing the best customer care and quality of service within our sector and the fact that both Cabot and Apex shared the same values, founded on long-standing ethical principles, means that the two organisations fit together very well.
We are looking forward to a prosperous future at Cabot Credit Management as the synergies created from our enlarged Group allow us to provide a wide range of independent specialist services to our corporate clients, who can choose one or any combination of these to suit their own specific requirements.”
The new Group website address is www.cabotcm.com.