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Cabot sold by AnaCap
Debt purchaser Cabot Credit Management will be sold to private equity firm J.C. Flowers & Co. The deal was due to conclude at lunchtime today (15 May) and marks the exit of AnaCap Financial Partners, which bought Cabot in 2011. No financial details have been disclosed but reports suggest AnaCap has more than doubled its investment in Cabot from the sale. J. Christopher Flowers, a former Goldman Sachs banker and the chairman of J.C. Flowers & Co., said: “We are pleased to finalise our investment in Cabot, which represents an important addition to our portfolio of financial services investments.” Cabot Credit Management was formed by the merger of Apex Credit Management and Cabot Financial in April 2011, after AnaCap bought Cabot Financial alongside Morgan Stanley Alternative Investment Partners and Partners Group. The business has since become one of the largest purchasers of consumer debts in the UK and Ireland, with more than £7.7 billion of assets under management covering more than 3.5 million customer accounts.....Read more hereYou must be logged in to post a comment.
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