GTCR sells CallCredit to TransUnion for £1bn

Kenny Wastell
23 April 2018

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GTCR has agreed to sell UK-based consumer credit reference bureau CallCredit Information Group to listed US trade buyer TransUnion in a deal valuing the business at ТЃ1bn.

Under the GP's tenure, the business has undertaken an acquisitive and international growth strategy. Prior to its acquisition by GTCR, CallCredit had additional offices in Japan, China, Dubai and Lithuania. It has since expanded into the Spanish and US markets. The company also invested in product development, with a particular focus on fraud protection and identity verification.

Bolt-on transactions included the acquisitions of customer experience specialist Numero in March 2016, device fraud protection firm Recipero in September 2016, and Spanish fraud prevention and anti-money-laundering business Confirma in June 2017.

The acquisition of CallCredit by TransUnion in turn forms part of its international expansion strategy, with the trade buyer having operations in 33 countries prior to the transaction.

The deal is scheduled to complete either late in the second quarter or early in the third quarter, according to a statement issued by the acquirer.

Previous funding
CallCredit first received private equity backing in December 2009, when Vitruvian Partners acquired the business from its former parent group, building society Skipton.

GTCR then acquired Callcredit from Vitruvian in a deal understood to have been valued in excess of £480m in February 2014.

Company
Founded in 2000 and headquartered in Leeds, CallCredit provides credit references, in addition to data, analysis and software related to consumer credit. The business generated a turnover of £201m in 2016, according to publicly available documents, with an operating profit of £41.8m, representing year-on-year increases of 18% and 51% respectively.

People
GTCR – Collin Roche, Aaron Cohen (managing directors).
CallCredit Information Group – Mike Gordon (CEO).
TransUnion – Jim Peck (president, CEO); David Neenan (president of international).

Advisers
Company – Jefferies International (corporate finance); Credit Suisse (corporate finance); Evercore (corporate finance); Kirkland & Ellis (legal).