Wragge & Co has advised ISIS Equity Partners on the £10 million sale of Credit Solutions to arvato UK & Ireland. The firm advised ISIS on its initial £4.5 million investment in Credit Solutions in 2005. Since then, ISIS has supported the growth of Credit Solutions and its increased service offering.
Private equity partner Andy Stylianou led the deal, supported by associate Emmanuelle Strauven. Both worked closely with Pete Clarke, who has managed ISIS’ investment in Credit Solutions.
Andy Stylianou said: “We have worked on a number of transactions for ISIS and its investee companies. As well as our understanding of ISIS’ commercial objectives, our extensive mid-market private equity experience meant we could provide the practical advice that ISIS needed. We have now been able to assist ISIS in bringing its dealings with Credit Solutions full circle to a very successful conclusion for all parties involved.”
Pete Clarke added: “ISIS has a well-established rapport with Wragge & Co on Credit Solutions and other investments, which made the firm the obvious choice to advise on the sale of Credit Solutions. Wragge & Co understood the commercial issues and got on with the job. It is a great result for all involved.”
ISIS is a leading independent UK lower mid-market private equity firm, which operates from offices in London, Birmingham, Leeds and Manchester. It applies a research-led, sector focused approach to investment in unquoted companies in the UK and across Europe. At 30 September 2010 ISIS had funds under management of £677 million.
Credit Solutions provides integrated telephone and field-based debt collection and management services. Its clients include eight of the top ten UK financial services companies, six of the top ten UK telecommunications companies, all of the major UK utilities providers, and a number of central government agencies.
The Credit Solutions management team was advised by asb law LLP. DLA Piper UK LLP acted for arvato.
Wragge & Co’s specialist Private Equity team offers detailed guidance on pre-transaction decisions, financing, structuring and tax issues, as well as post-transaction services. In addition to ISIS, clients include CBPE, HIG, Charterhouse, LDC, 3i, Endless and NVM Private Equity.
