M&A Deal Summary

PRA Group Acquires PCM s IVA Master Servicing Platform

On February 4, 2014, PRA Group acquired business services company PCM s IVA Master Servicing Platform from Pamplona Capital Management - Private Equity

Acquisition Highlights
  • This is PRA Group’s 6th transaction in the Business Services sector.
  • This is PRA Group’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2014-02-04
Target PCM s IVA Master Servicing Platform
Sector Business Services
Buyer(s) PRA Group
Sellers(s) Pamplona Capital Management - Private Equity
Deal Type Add-on Acquisition

Target

PCM s IVA Master Servicing Platform

United Kingdom
PCM's IVA Master Servicing Platform, as well as other operating assets associated with PCM's IVA business. IVAs, or individual voluntary arrangements, are a formal alternative for U.K. consumers to primarily avoid bankruptcy.

Search 192,349 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

PRA Group

Norfolk, Virginia, United States

website

Category Company
Founded 1996
Sector Financial Services
Employees3,822
Revenue 967M USD (2022)
DESCRIPTION

PRA Group is a financial services company. PRA's primary business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, governments, retailers and others. The accounts PRA acquires are the unpaid obligations of individuals owed to credit grantors, which primarily include banks, and other types of consumer, retail, and auto finance companies. The Company also provides fee-based services, including contingent collections of defaulted finance receivables in Europe, vehicle location, skip tracing and collateral recovery services for auto lenders, governments and law enforcement via PRA Location Services, LLC, revenue administration, audit and debt discovery/recovery services for local government entities through PRA Government Services, LLC and MuniServices, LLC and class action claims recovery services and related payment processing via Claims Compensation Bureau, LLC. PRA Group was founded in 1996 and is based in Norfolk, Virginia.

DEAL STATS #
Overall 6 of 10
Sector (Business Services) 6 of 6
Type (Add-on Acquisition) 5 of 8
Country (United Kingdom) 2 of 2
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-22 Mackenzie Hall Holdings

London, United Kingdom

Mackenzie Hall Holdings Ltd. is a provider services of consumer debt recovery. Mackenzie Hall today comprises Mackenzie Hall Ltd., outsourced and contingent consumer debt recovery specialists operating on behalf of a wide range of banks, credit providers and debt purchasers; Mackenzie Hall Debt Purchase Ltd., purchasers of distressed and dormant niche portfolios; and doorstep collections agency Meritforce Ltd.

Buy £34M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-16 Aktiv Kapital AS

Oslo, Norway

Aktiv Kapital AS is a provider of acquiring and servicing non-performing consumer debt throughout Europe and Canada.

Buy $880M

Seller(S) 1

SELLER

Pamplona Capital Management - Private Equity

London, United Kingdom

Investor Investor

website

Category Private Equity Firm
Founded 2005
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Pamplona Capital Management - Private Equity, is the private equity unit of asset manager Pamplona, which also provides hedge funds and hedge fund-of-funds products. Pamplona PE invests in 'market leading' companies in a variety of industry sectors. The Group will consider opportunities throughout North America and Europe. Pamplona PE was established in 2005 and is based in London and New York.

DEAL STATS #
Overall 8 of 20
Sector (Business Services) 1 of 3
Type (Add-on Acquisition) 3 of 5
Country (United Kingdom) 4 of 4
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-23 MagnaCare

New York, New York, United States

MagnaCare processes and administers healthcare claims for customers who utilize the company?s proprietary, fully-integrated physician, diagnostic and hospital preferred provider organizations (PPO) and workers compensation program. MagnaCare was founded in 1990 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-02 Alvogen

Morristown, New Jersey, United States

Alvogen is a multinational pharmaceuticals company focused on developing, manufacturing and distributing generic, brand, over-the-counter brands (OTC) and biosimilar products. With more than 200 pharmaceutical projects in development and registration, the group’s product portfolio consists of a broad range of leading molecules for the treatment of conditions in the fields of oncology, cardiology, respiratory, neurology, and gastroenterology. Alvogen has commercial operations in over 30 countries across North America, Central and Eastern Europe, and the Asia Pacific. Alvogen was founded in 2009 and is based in Morristown, New Jersey.

Buy -
Mergr

Product

Company

Legal