Intriva Capital (Intriva), an independent alternative asset manager, has acquired a significant stake and supported a management buy-out in MoneyPlus Group (MoneyPlus), one of the UK’s largest providers of consumer debt advice
Intriva will provide additional funding to further enhance the depth, breadth and value of services for MoneyPlus’ customers in a total investment program of GBP60 million.
MoneyPlus Group was founded in 2010 to help people who are struggling with their finances to find the right solutions to their problems. It has grown to become one of the UK’s largest providers of private debt advice and planning, working with over 50,000 customers each year. Alongside its core debt advice service, MoneyPlus Group also provides household energy solutions and legal services to its customer base. MoneyPlus is headquartered in Manchester, employs more than 170 people, and is regulated by both the Financial Conduct Authority (FCA) and the Solicitors Regulation Authority (SRA).
Intriva’s backing of the management buyout, led by Chris Davis, the longstanding Chief Executive of MoneyPlus Group, will accelerate the expansion of the company’s services to a wider range of customers across the country, at a time when debt advice is increasingly necessary. The existing MoneyPlus management team will continue in their existing roles.
Simon Finn, Managing Partner at Intriva Capital, says: “Chris and his team have successfully grown MoneyPlus to become a leader in its field with a reputation for understanding customer needs and acting with the upmost responsibility. This transaction is an opportunity for us to invest in a high-growth, dynamic business with a strong management team and an ambitious plan to support underserved markets and geographies.
Source: Private Equity Wire
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