GTCR picks up Vitruvian's Callcredit

Alice Murray
17 February 2014

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US-based private equity firm GTCR has acquired Leeds-based Callcredit Information Group from Vitruvian Partners.

The value of the deal is understood to be in excess of £480m.

The secondary buyout saw GTCR purchasing the company alongside its management team led by CEO John McAndrew.

Following the deal, GTCR will support the company with its continued product innovation in the fields of consumer credit and data analytics. The US buyout house will also aid the company's geographical expansion and acquisitions.

The transaction adds to the growing trend of US private equity firms acquiring European private equity-backed companies.

Previous funding
Vitruvian acquired Callcredit in December 2009 from its former parent, building society Skipton. The deal was supported with debt provided by Lloyds, according to unquote" data.

In November 2012, GE Capital and Ares Capital Europe provided a unitranche debt facility for the company, enabling it to fund planned acquisitions. Lloyds continued to provide a revolving credit facility and clearing services.

Company
Established in 2000, Callcredit provides consumer data solutions, software and analytics. It aids clients in better understanding their customers through its combined data and marketing approach, with a focus on credit risk, collections, identity verification, digital services, retail network planning, as well as marketing data and mailing lists. It provides data solutions and software analytics to enable real-time credit reporting, loan affordability assessments, and fraud protection.

Its clients include corporates, financial institutions and organisations in the alternative lending, insurance, telecom, utilities and public sectors.

Headquartered Leeds, the company employs 1,000 people in the UK with offices in Hatfield, Kent, Bath, London, Swindon and Warrington. It also has offices in Japan, China, Dubai and Lithuania.

People
Collin Roche is managing director at GTCR. John McAndrew is CEO of Callcredit. David Nahama is a founding partner at Vitruvian.

Advisers
Equity - DC Advisory (Debt advisory).
Management - Park Place Corporate Finance (Corporate finance); Addleshaw Goddard (Legal); KPMG (Tax).
Vendor - Squire Sanders (Legal); KPMG, John Hughes (Financial due diligence).