Cabot Square, Eurofun acquire BPN Crédito for €36m

Following completion of the transaction, the company is to rebrand and assess potential acquisitions, including existing Portuguese loan portfolios, as part of its growth strategy. 

The GP, which will also provide an additional funding facility to expand the company's loan book, was attracted by BPN Crédito's management team and its existing distribution network. It also cited the lack of credit options open to Portuguese consumers and the country's improving economy as motivations behind the deal.

Eurofun principal Luis Monteiro D’Aguiar has been appointed executive chairman of BPN Crédito following the deal.

In the past year Cabot Square has made a number of investments in consumer finance companies. These include the acquisitions of UK companies Blue Motor Finance, a car finance provider; and Henry Howard Finance, a finance provider for SMEs.

Company
Formerly the consumer credit arm of Banco Português de Negócios, BPN Crédito focuses mainly on the provision of financing for used cars. The Lisbon-based business was founded in 2003 and also provides loans to facilitate the acquisition of equipment and real estate. It has a headcount of 184 and currently has more than €200m in outstanding loan assets.

People
Tarum Sharma is an investment director at Cabot Square. Luis Monteiro D’Aguiar is executive chairman of BPN Crédito.

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• Topics
• Buyouts
• Southern Europe
• Financials
• Portugal