Shoosmiths advises on £113m sale of debt purchaser

Shoosmiths advises on £113m sale of debt purchaser


Author: Kara Shadbolt

National law firm Shoosmiths acted for the management team of Milton Keynes based business Compello Holdings Limited ('Compello') in the £113m sale to Hoist Finance (UK) Limited in July 2015.

Compello, which has been providing collection services since 2003, and became a debt purchaser in 2010, held a portfolio of more than one million agreements at the time of acquisition.

Hoist Finance is a leading debt restructuring partner to international banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. The total carrying value of Hoist Finance's acquired loans was approximately SEK 8.9 billion as at 31 December 2014.

CEO of Compello, Sarah Lambert, remains in place following the acquisition by Hoist Finance.

Shoosmiths' corporate partner Sanjeev Sharma led the deal with assistance from associate Claire Checketts, trainee solicitor Aleksandr Bosch and paralegal James Grinstead. Partner Gwynneth Tan and senior associate Simon Fennell advised on employment matters.

Sarah Lambert said: 'We were delighted with the level of service from the Shoosmiths team. They were always available and highly responsive. At all times, we had every confidence in their team. The breadth of knowledge, and support across the teams was excellent. We enjoyed working with them throughout the transaction process.'

Shoosmiths' corporate team has a strong track record of advising public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.

The national corporate team has been placed second by deal volume in Experian's UK Deal Review and Advisor League Table and have recently won Law Firm of the Year at the M&A Awards 2015.