Private equity firm TDR Capital has acquired debt purchase firm Lowell Group from Exponent Private Equity for an undisclosed sum.

The deal follows a lengthy negotiation period and ends a partnership between Lowell and Exponent dating back to April 2008, when the investor purchased a majority stake in the firm.

Exponent was advised on the sale by Hawkpoint and Travers Smith LLP. Hawkpoint was appointed to advise Lowell Group’s shareholders in December 2010, shortly after the debt purchaser announced it had secured a £120m senior debt facility to fund new portfolio acquisitions over the next three years.

James Cornell, chief executive of Lowell Group, said: "TDR’s investment represents a resounding endorsement of Lowell’s success, built on the hard work, dedication and commitment of our