Portfolio company development: Harrington Brooks acquires two debt management back books together with an ongoing flow agreement
Inflexion Private Equity, the mid-market private equity investor, today announces the latest acquisition by its portfolio company, Harrington Brooks, one of the UK’s largest providers of debt management and consolidation services. Harrington Brooks has acquired debt management back books from Fresh Start Financial Solution based in Poynton and Fresh Start Home Loans based in Truro. The deal was financed by a combination of equity from Inflexion, key members of the management team and senior debt from RBS.
Fresh Start and Fresh Start Home Loans will continue to advise new clients on dealing with their debt concerns and Harrington Brooks will supervise the plans to achieve the best results for customers and their creditors.
Matthew Cheetham, CEO of Harrington Brooks said; “Harrington Brooks has bought other back books and has a track record of successfully supervising thousands of debt management cases, with high levels of customer service. The back book deal and particularly the joint venture on ongoing business with Fresh Start and Fresh Start Home Loans will enable us to consolidate our position as one of the leading customer debt management providers.”