Endless acquires PRAC Financial

The deal will enable PRAC to purchase additional assets, with two consumer debt portfolios already secured. The business also recently expanded its operations into the Scottish market.

Capital for the transaction was drawn from Endless Fund IV, a £525m vehicle that held its first and final close in December 2014. The deal is the 14th investment made from the fund in slightly more than two years.

Endless has been particularly active in recent weeks, acquiring the recruitment arm of outsourcing group Capita (which trades as Affinity Workforce); supporting the bolt-on of novelty gift retailer Qwerkity by portfolio company Book People; and selling technical services provider Imtech UK & Ireland to trade buyer EDF Energy Services since the beginning of June.

Company
Founded in 2006 and headquartered in Barnsley, south Yorkshire, PRAC acquires regulated and non-regulated consumer and commercial debt portfolios.

People
Endless – Andy Smith (partner).

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