Sector Financial Services
Location Manchester, UK
Exit date July 2012
Investment status Realised
Return 3.2x; sold to RJD Partners

Harrington Brooks

The company

Harrington Brooks (All Clear Finance when we originally invested) was one of the UK’s largest providers of debt management and consolidation services. The Manchester-based company was founded in 1998 and employed over 400 staff. Harrington Brooks helped clients with a variety of debt management services, including debt consolidation, re-mortgaging and IVA services.

Growth strategy

Harrington Brooks was established in a relatively new market which was developing quickly. The ambitious management team sought to capitalise on this rapid change looking for an investor who could help them grow market share and consolidate their position through acquisitions.

The Inflexion difference

Under Inflexion’s ownership, Harrington Brooks made four acquisitions, two of which were part funded by additional funds from Inflexion.

At the time of the original deal, Harrington Brooks was focused exclusively on debt management, but working in partnership with Inflexion the company launched into the IVA market under the brand name One Advice. At exit, One Advice was one of the leading providers of IVAs in the UK.

Additionally, and with our support, Harrington Brooks broadened its income streams, launching a variety of new innovative service lines to customers including utility bills assistance, right-to-buy for council tenants, loan consolidation and financial claims for victims of mis-selling. Inflexion also backed the company in the creation of an innovative “B2B” model, whereby Harrington Brooks provided back office administrative services to other debt solution providers.

Harrington Brooks assisted over 100,000 customers during Inflexion’s ownership, with the number of customers with debts formally under management by the company growing by four fold during this period.