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Intrum Justitia completes 1st Credit acquisition

Intrum Justitia has this week (February 14) completed the acquisition of UK debt purchaser 1st Credit.

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The European credit management group completed the deal with private equity firm Bridgepoint for an enterprise value of £130m.

 

Credit Strategy first broke the news of the acquisition to the industry in November 2016.

 

Intrum has retained the existing UK management team led by 1st Credit’s chairman Leith Robertson and chief executive Eddie Nott.

 

1st Credit also announced the news that it has secured ISO accreditation for the treatment of vulnerable customers.

 

The ISO is an independent, non-governmental organisation which brings together industry experts to share knowledge and develop voluntary, consensus-based, international standards.

 

The debt purchaser was assessed by the ISO in January this year to the requirements of its standards for identifying and responding to consumer vulnerability.

 

Nott said: “Our team works hard to create a high-quality customer experience and ensure that collections activity is suspended where necessary – signposting individuals to appropriate sources of help and ensuring their repayments are manageable in their circumstances.”

 

In November 2016 Intrum also announced plans to merge with fellow credit management business Lindorff.

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