Arum Systems has been sold as part of a deal led by former debt enforcement agency owner Jamie Waller.
Arum, a specialist consultancy in systems for credit management and debt collection, made the announcement this morning (November 6).
As part of the deal Arum has appointed a new chief executive who has already joined the company.
Mark Johnston joined as chief executive on November 1; he has taken over the role from co-founder Aleks Tomczyk who will remain with the business for a year to help with the transition. Arum said there have been no other major changes and the company will continue to run as normal.
Johnston owns Clockspeed, a product management and marketing company, and previously owned consultancy firm Methods where he acted as managing director.
Arum said the company was sold last month in a deal led by Jamie Waller who founded and owned the enforcement firm JBW Group.
Waller sold JBW Group in 2016 and went on to form Hito Group, a specialist collections technology provider, which was sold in January 2017, five months after it had launched. He will now carry out the role of non-executive chairman at Arum.
Johnston said: “This deal will enable the future success and growth of the business building on the good work that has been done to date by the Arum team, continuing to focus on excellent delivery to clients whilst broadening the range of services and offerings.”
Waller, who did not wish to disclose the amount he has invested, said: “Arum has a great reputation in the industry and is known for its expertise, quality of service, transparency and ability to deliver. We plan to expand that good reputation through significant investment in people, processes and services.”