LDC buys Bluestone

Bluestone was previously owned by a mix of private and institutional shareholders including Bank of Scotland, Crescent Capital, Barclays Bank and ABN Amro.

Company
Established in 2000 by Alistair Jeffery in Australia, Bluestone started out as a residential mortgage lender. The company is now headquartered in Cambridge, UK, and focuses on loan origination, consumer loan purchasing and debt servicing. For the year ending June 2013, Bluestone had total assets of £35.6m and reported an £8.7m profit after tax.

The company is split into two divisions, Bluestone Asset Management and Bluestone Capital Management. The capital management business raises and invests capital in financial assets, supports new lending in Australia (for residential mortgages), provides specialist consumer auto-loans, SME asset finance and acquires SME non-performing loan (NPL) portfolios.

The asset management division is responsible for the group's financial and real estate assets and manages £1.6bn of loan assets from its platforms in Sheffield, Dublin and Sydney.

The group began its debt collection service in 2011 when it acquired Sheffield-based Close Credit Management from Close Brothers.

People
Following the deal, Bluestone will be led by management team Alistair Jeffrey and existing executives Peter McGuinness, Andrew Voss and Campbell Smyth. Daniel Sasaki is managing director of LDC London.

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• Topics
• Buyouts
• UK / Ireland
• Financials
• LDC
• United Kingdom