Debt advice firm MoneyPlus Group has made its eighth acquisition. The Manchester business has swooped for Debt Movers, which specialises in providing debt advice for its customers.
It comes on the back of MoneyPlus buying high street law firm Richardson Mail, of Sale.
MoneyPlus is backed by Manchester private equity outfit Palatine, following a management buyout in 2011.
MoneyPlus chief executive Chris Davis said: “We have worked with Debt Movers for some years and have always admired the way in which they operate and most importantly how they treat the consumers that they act for.
“The landscape within the debt advice sector is changing given the increased regulation from the Financial Conduct Authority (FCA), and it is clear to me that the future will see more examples of the market consolidating.
“This additional acquisition underlines how MoneyPlus is able to identify and complete on potential targets which are of interest to us, and which will enable us to further our standing in the sector.”
Ed Fazakerley, partner at Palatine and non-executive director at MoneyPlus Group, added: “The latest acquisition by MoneyPlus brings the total number of deals to eight during the time of our investment.
“The company is experiencing significant growth and continues to strengthen its offering in the financial and legal services market through its buy-and-build strategy.”
This is the 9th transaction undertaken by Dow Schofield Watts Transaction Services in the debt management sector in 2013 and the 7th acquisition we have worked on for MoneyPlus Group.
Dow Schofield Watts Transaction Services also performed the financial due diligence on Palatine’s £17m buyout of online holiday price comparison site Icelolly.