Cabot Credit Management Buys Its 1000th Debt Portfolio
Cabot Credit Management (CCM), a market leading acquirer and manager of consumer debt which recently acquired the Marlin Financial Group, has reached another milestone by purchasing its 1000th debt portfolio.
This follows its success last year when its Estimated Remaining Collections (ERC) first exceeded the £1 billion mark.
During its 15 years of unbroken growth, CCM has transacted with in excess of 50 different organisations. These include many long standing significant partners where CCM has completed in excess of 50 individual transactions. These portfolios derive from a variety sectors including banking, retail credit, credit cards, mail order, motor finance, telecoms and other more niche sectors and the largest portfolio purchased to date had a face value of £471m. With its India Call Centre in place, CCM is now in a good position to take on even larger portfolios of debt in the future.
Ken Stannard, Chief Executive Officer, Cabot Credit Management, said: “By reaching this milestone we demonstrate our scale and strength in this marketplace. We are continuing to evolve our business and look forward to further growth in the future.”
About Cabot Credit Management
Cabot Credit Management is a market leading acquirer and manager of consumer debt. Divided into five specialist businesses, Cabot Financial, Cabot Financial Ireland, Apex Credit Management, Apex Discovery Solutions and Marlin Financial Group, it covers debt purchase, contingency collections, and customer tracing.
The combined Cabot Credit Management group has purchased assets of £10.7 billion, manages over £1 billion of assets on behalf of clients, collects over £27 million per month on portfolios it owns and on behalf of clients, and has a 15 year unbroken track record of steady growth. The combined group made portfolio purchases of £189 million and achieved revenue on owned loan portfolios of £224 million during the 12 months ended 31 December 2013. The combined 120 Month ERC as at 31 December 2013 was £1.4 billion.
The combined Cabot Credit Management group employs approximately 870 people with offices in Kings Hill, Stratford-upon-Avon, Dublin, Worthing and London. The company prides itself on its ethical values and high standards and has an impressive list of accolades including achieving Investors in People Gold award (accredited for 3 years), attaining a place in the Sunday Times Top 100 Best Companies to Work For – 2013 and Marlin being ranked in 30th in the Sunday Times Profit Track 100 - 2013, the only debt purchaser to be named.
The controlling shareholder of Cabot Credit Management is Encore Capital Group, a leading U.S. provider of debt management and recovery solutions, with the remaining equity being held by a fund advised by J.C. Flowers & Co and management.
PR Manager, Cabot Credit Management
Tel: +44 (0) 7780 495082