M&A Deal Summary

Credit Corp Group Acquires Baycorp Pty

On August 16, 2019, Credit Corp Group acquired financial services company Baycorp Pty from Encore for 65M AUD

Acquisition Highlights
  • This is Credit Corp Group’s 1st transaction in the Financial Services sector.
  • This is Credit Corp Group’s 2nd largest (disclosed) transaction.
  • This is Credit Corp Group’s 1st transaction in Australia.

M&A Deal Summary
Date 2019-08-16
Target Baycorp Pty
Sector Financial Services
Buyer(s) Credit Corp Group
Sellers(s) Encore
Deal Type Divestiture
Deal Value 65M AUD

Target

Baycorp Pty

Parramatta, Australia
Baycorp (Aust) Pty Ltd. is a large and well-established debt purchasing and debt collection operator across Australia and New Zealand. Baycorp (Aust) Pty Ltd. assets comprise a sizeable purchased debt ledger (PDL) book, a PDL collection platform and agency collection businesses in Australia and New Zealand.

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Buyer(S) 1

Buyer

Credit Corp Group

Sydney, Australia
Category Company
Founded 1992
Sector Financial Services
Employees1,908
Revenue 286M AUD (2020)
DESCRIPTION

Credit Corp Group is Australia’s largest provider of sustainable financial services in the credit-impaired consumer segment. Credit Corp Group are committed to providing sustainable and responsible financial solutions for customers, with the goal of improving financial situations. Credit Corp Group was founded in 1992 and is based in Sydney, Australia.

DEAL STATS #
Overall 1 of 4
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 3
Country (Australia) 1 of 4
Year (2019) 1 of 1
Size (of disclosed) 2 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-24 Collection House - Australian Purchased Debt Ledger Book

Newstead, Australia

Collection House Ltd. - Australian Purchased Debt Ledger Book providees organizations and individuals with world-class solutions in credit management, collections, and customer care.

Buy AU$175M

Seller(S) 1

SELLER

Encore

San Diego, California, United States
Category Company
Founded 1999
Sector Financial Services
Employees7,400
Revenue 1.2B USD (2023)
DESCRIPTION
Entrance to Encore Capital Group's corporate headquarters in San Diego, California.
Entrance to Encore Capital Group's corporate headquarters in San Diego, California.

Encore is a purchaser and manager of charged-off consumer receivable portfolios. Through its wholly owned subsidiary Ascension Capital Group, Inc., Encore also is a provider of bankruptcy services to the finance industry. Encore acquires receivable portfolios at deep discounts from their face values using a proprietary valuation process that is based upon an analysis of the individual consumer attributes of the underlying accounts Encore was founded in 1999 and is based in San Diego, California.

DEAL STATS #
Overall 3 of 3
Sector (Financial Services) 2 of 2
Type (Divestiture) 1 of 1
Country (Australia) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-09 Cabot Credit Management

West Malling, United Kingdom

Cabot Credit Management is a provider of acquirer and manager of consumer debt. Cabot Credit Management was founded in 2011 and is based in West Malling, United Kingdom.

Sell -
Mergr

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