US-based TransUnion agrees £1bn Callcredit acquisition

TransUnion currently operates in 33 countries across North America, Africa, Latin America and Asia.

The acquisition is anticipated to close late in the second quarter or early in the third quarter pending regulatory approval. RBC Capital Markets was the buyside adviser to TransUnion on the transaction, while Jefferies International Limited and Credit Suisse served as Callcredit’s financial advisers.

Founded in 2000, Callcredit includes the UK’s second-largest credit reference agency and employs approximately 1,200 people. In 2014, Callcredit was acquired by GTCR, a private equity firm based in Chicago.

“TransUnion and Callcredit have strong synergies across our business models and solutions, and we share a commitment to using information to benefit consumers and global economies alike,” said Jim Peck, TransUnion’s president and chief executive officer. “Callcredit is an outstanding acquisition for TransUnion, and together, we’ll be a powerful force to deliver value to shareholders, customers and consumers across all the markets we serve.”

Mike Gordon, Callcredit chief executive said: “Investment by a global company with an established track record, shared values and leadership who recognised our market potential is absolutely the right fit for us and the market. We are excited about the future and unique opportunity to elevate our competitive advantage with TransUnion through our combined innovation and expertise.”

Asked if staff will be affected, Callcredit told Credit Strategy that at this stage it "does not know what the future structure of the business might be. In the interim, nothing changes and we are firmly focused on delivering the high quality services clients have come to expect".

On the question of whether Callcredit would retain its brand or take on the TransUnion name, it added: "TransUnion has developed an integration plan based on its experience in acquiring similar assets in other foreign jurisdictions, however it would be premature to provide any detail until the deal is closed."