Ashcombe is pleased to announce that it has advised Non-Standard Finance plc on its proposed acquisition of S&U plc’s Home Credit Division – trading as Loansathome4u – for £82.5m. The transaction is subject to approval by S&U’s shareholders and customary closing conditions.
Loansathome4u is a top-3 participant in the home-collected credit market with 77 years of history and strong brand recognition as a result of a ‘doorstep model’ that builds strong customer and franchise relationships.
John van Kuffeler, NSF's Chairman, said “I am delighted to announce a significant first step in the implementation of our strategy. Loansathome4u is a leading player in the home collected-credit market. It provides us with a well-established platform; a growing business; attractive operating margins and return on assets; and will form a strong base for NSF as we grow organically and acquire new businesses.”
Paul Goodwin, Partner at Ashcombe Advisers, commented: “Having worked with NSF since its inception, we are delighted to have supported the Group in making its first acquisition. Loansathome4u is a strong foundation upon which they can build and deliver their innovative strategy.”
This acquisition represents the 10th financial services transaction that Ashcombe has delivered since 2014 which together have an aggregate value in excess of £2.0bn.