Duke street snaps up debt collection agency
Duke Street, the mid-market private equity group, has acquired a 58 per cent stake in debt collection group Marlin for an undisclosed sum.
Marlin specialises in collecting from wealthy debtors, with “litigation quality” arrears that can be recouped through the courts.
Duke Street partner Miles Cresswell-Turner said: “Marlin has the potential, with funding and operational help from Duke Street, to become a clear category-killer among litigation-focused debt purchasers.
“The debt purchase sector is set to recover sharply in the next two to three years, so this investment is an opportunity to build a focused platform with strong upside characteristics.”
Duke Street also acquired payment provider Payzone earlier this year.
Last year creditors outsourced £13.1bn of delinquent debt to third party collectors, including £2.7bn sold to debt purchasers.