Hoist Kredit AB has acquired Leeds-based debt collection agency the lewis group for an undisclosed sum.
It marks the second acquisition of a UK debt collection agency by Sweden-headquartered Hoist in the last year, after the firm snapped up Robinson Way in November 2012.
The lewis group was formerly part of Cattles, the consumer lender which entered a scheme of arrangement sanctioned by the High Court in 2011.
In a statement, Hoist said the deal would provide a significant investment opportunity as it seeks to become a leading force in debt purchase and debt collection in the UK.
Najib Nathoo, Hoist’s UK country manager, said: “The lewis group has an excellent reputation and track record built over more than 40 years, and is one of the most respected brands in the collections industry.
“With its established collections platform and specific skills, knowledge and experience of certain disciplines, as well as its thought-leadership in areas such as Treating Customers Fairly (TCF) through its Financial Support Unit (FSU), the lewis group is a natural fit.”
Sean Feast, a spokesman for Hoist, said Dave Berry would remain as managing director of the lewis group in the immediate future to support the transition of the business to its new owners.
Published 9 August 2013