RCapital acquires Shopacheck
Turnaround investor RCapital has bought home collected credit business Shopacheck Financial Services from Welcome Financial Services.
The deal sees the GP taking a 100% stake in Shopacheck, which will merge with RCapital's existing home collected credit company, Morses Club.
The combined business will employ a total of 500 employees and 2,100 agents with turnover expected to be in the region of £80m.
The purchase came about as a result of Welcome's financial problems, though Shopacheck itself was not in financial distress.
To date, in 2014, RCapital has invested in instrumentation and monitoring specialist ITMsoil. In 2013 the GP made a growth investment in Shropshire Leisure Group and sold roadside restaurant chain Little Chef to Kuwait-based KFG.
Company
Founded in 1927, Birstall based Shopacheck is a provider of home collected cash loans.
People
Jamie Constable is CEO of RCapital.
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