Cabot enters Spanish Debt Servicing Market
9 November 2015 – Cabot, the UK and Irelands largest servicer of non-performing loans recognised as the industry leader in regulatory compliance has acquired 100% of Gesif, which has over 20 years of extensive experience in collections management servicing both consumer and SME loan portfolio’s from multiple sectors for clients ranging from Spanish Banks to Global Investors.
Gesif S.A.U. Spain’s most experienced credit management services company has been acquired by Cabot Financial Debt Recoveries Services Limited, part of the Cabot Credit Management Group.
Melania Sebastián Marino, Gesif Directora General, commented: “ We are very proud to join the Cabot family which will enable us to grow and gain a leadership position in the Spanish servicing market.”
Ken Stannard, Cabot Group CEO, commented: “Gesif gives us a foothold and growth platform in a strategically important geography with similar focus and high standards in regulatory compliance and will allow us to leverage our operating platform for further long term growth in Spain. A key factor in our decision is the high quality leadership team and strong client relationships at Gesif, we are all very excited to be working with Melania and her team!”
About Cabot Credit Management
Cabot Credit Management is a market leader in debt purchasing, contingency collections, litigation and customer tracing, and is divided into five specialty businesses: Cabot Financial, Cabot Financial Ireland, Apex Credit Management, dlc and Mortimer Clarke Solicitors.
As at 30 June 2015 the combined Cabot Credit Management group has invested £1.7 billion in acquiring portfolios with a Face Value in excess of £16.0 billion update and has an ERC (estimated remaining collections) of £1.85 billion. It manages in the region of £1 billion of assets on behalf of clients, collects over £35 million per month on portfolios it either owns or services on behalf of clients, and has delivered consistently strong financial performance, having grown its business in each of the last 16 years without exception.
The group, which has purchased over 7 million customer accounts, employs approximately 1200 people with offices in Kings Hill, Stratford-upon-Avon, Brackley, Dublin, Worthing, and London. The company prides itself on its ethical values, customer service and high standards. It has an impressive list of accolades including:
· Investors in People Gold and Champion awards
· Treating Customers Fairly Award 2015, Credit Today
The controlling shareholder of Cabot Credit Management is Encore Capital Group, an international speciality finance company providing debt recovery solutions, with the remaining equity being held by a fund advised by J.C. Flowers & Co. in addition to company management.