Newly launched business Equivo will provide clients with a complete ‘one stop shop’ multi-disciplinary recoveries solution, with it also having a strong focus on technology to deliver a digital consumer engagement experience.
Set up by UK law firm Shoosmiths and national collections, recoveries and enforcement business Chartsbridge, it’s a new recoveries business providing end-to-end collections, legal and enforcement services.
As part of the joint venture, Equivo has acquired the Shoosmiths recoveries services lines including early and late stage collections, pre-legal activity, recoveries litigation including non-standard consumer recoveries defended actions and enforcement. The company is authorised and regulated by the Solicitors Regulation Authority and the Financial Conduct Authority as well as by the Ministry of Justice, enabling full-service collections, legal and enforcement services.
The combined business will service all client needs, irrespective of geographic jurisdiction and provide a seamless UK-wide recoveries service including in-house field and enforcement activities.
Shoosmiths chief executive Simon Boss said: “As a progressive firm, we constantly explore ways to innovate and improve the way we work to provide high-quality, client focussed service. For some time, we have been reviewing how to further enhance our recoveries business by providing new, dynamic and exciting products and services to our clients and the market. We know from talking to our clients that they are incredibly supportive of this new business concept and the value and benefits it will give them.
“Recoveries is a distinct business area, requiring particular and unique skills and systems. Equivo will drive continued investment and development in this business whilst at the same time, Shoosmiths will continue to focus on building its UK leading financial services group.”
Equivo has three key divisions: legal, collections and field, and enforcement. These cover all disciplines that are part of the recoveries lifecycle in a single company structure. The business has in-house capability to provide clients with modular or full-service recoveries solutions including legal services, high court enforcement, and motor and property repossessions. It will also be involved in field services including process serving, reconnect services and trace activity.
The new offering provides clients with the full suite of services to support their end-to-end recoveries requirements.
Chartsbridge founder and chief executive of Equivo John Ingram said: “By entering into this venture with Shoosmiths, the new combined Equivo business is now able to offer a complete ‘one stop shop’ end-to-end and highly tech-enabled service to our clients, and this is something that no one else in the market can currently offer.
“There is no doubt that this business will bring increased industry expertise to our clients and enhanced opportunities to work on digital solutions providing both efficient and compliant approaches to engage with customers in a post-Covid/digital world with our specialist tech teams.”