MoneyPlus acquire Wirral-based Debt Movers

Manchester-based MoneyPlus Group, a provider of debt advice in the UK, has acquired Wirral-based Debt Movers.

The acquisition follows the recent purchase of high street law firm, Richardson Mail, which strengthened MoneyPlus’ legal and insurance offerings.

Debt Movers specialises in debt management and Individual Voluntary Arrangements (IVA) working with customers to provide debt solutions.

This is the latest in a line of acquisitions by the Manchester-based financial and legal services provider which was backed by Palatine Private Equity, following a management buyout in 2011.

CEO Chris Davis,said: “We have worked with Debt Movers for some years and have always admired the way in which they operate and most importantly how they treat the consumers that they act for. The landscape within the debt advice sector is changing given the increased regulation from the Financial Conduct Authority (FCA), and it is clear to me that the future will see more examples of the market consolidating.

“This additional acquisition underlines how MoneyPlus is able to identify and complete on potential targets which are of interest to us, and which will enable us to further our standing in the sector.”

Ed Fazakerley, partner at Palatine and non-executive director at MoneyPlus Group, added: “The latest acquisition by MoneyPlus brings the total number of deals to eight during the time of our investment.

“The company is experiencing significant growth and continues to strengthen its offering in the financial and legal services market through its buy-and-build strategy.”