An Ayrshire-based debt collection company is to acquire a Surrey firm after securing a £3.3 million loan.
Both companies have "experienced strong growth as demand for debt collection increases, and emphasise supporting individuals in managing and reducing debt".
Founded by Graham Rankin in 2006, BPO Collections is a wholly owned subsidiary of Canadian-based, Everyday People Financial Corporation, with headquarters in Ayrshire, whose clients include several blue-chip companies such as Vodafone and Sky, as well as HMRC.
The £3.3m loan from OakNorth will "support the firm’s acquisition of debt collection agency CCS Collect". Both companies have experienced strong growth as demand for debt collection increases, and emphasise supporting individuals in managing and reducing debt.
Graham Rankin, founder and chief executive BPO Collections, said: "Dealing with debt shouldn’t be a stressful process, especially if you have a supportive, patient, and highly capable team on hand to help. We have always been impressed with CCS Collect’s strong reputation and growth and are excited to be joining forces to support even more customers. This acquisition wouldn’t have been possible without the support of OakNorth – like us, they clearly have a strong focus on customer experience, and a team of experts who will work with you to find the best way forward."
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Fraser McPhail, senior director of debt finance at OakNorth, said: “The management team behind BPO Collections, led by industry stalwart, Graham Rankin, is highly experienced and has an excellent track record.
“The firm’s client base continues to build organically with longstanding relationships with some of the UK’s biggest companies. With demand for debt collection services expected to grow and the acquisition of CCS Collect now complete, BPO Collections is well placed for future growth.
“We are delighted to have been able to support such a well-renowned and established debt recovery firm and look forward to supporting the expansion of the business.”
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