Quayle Munro is pleased to announce that it has advised Mars Capital, a business owned by funds advised by Oaktree Capital Management, L.P., Alex Forrester and Matt Gilmour, on the sale of its leading UK and Irish mortgage servicing businesses to Arrow Global Group PLC.
Mars Capital provides servicing for mortgages covering 1st / 2nd lien residential, buy-to-let and SME commercial mortgages, and provides a full loan lifecycle servicing, from loan origination support to late stage recoveries and real estate sales, with particular focus on managing distressed mortgage NPLs. As at 31 July 2017, Mars Capital was servicing over 10,000 customer accounts and had £1.6 billion of assets under management in the UK and Ireland.
The acquisition strengthens Arrow Global's asset management capabilities and reinforces its leading position in the UK, while providing a strategic entry into Ireland, a new market for the Group that offers significant debt purchasing and servicing potential.
The transaction is subject to regulatory approval by the Financial Conduct Authority ("FCA") and fulfilment of the Central Bank of Ireland notification obligations. It is expected to complete in late 2017.
Alex Forrester, Founder of Mars Capital, said: “We are delighted to have reached agreement with Arrow. We have built a strong, focused business in the UK and Ireland which will sit well in Arrow Global's asset management capabilities and the combined group is a strong platform for future growth. We thank Quayle Munro for their invaluable insight and input during this transaction.”
Quayle Munro commented: “Mars Capital is an excellent business and we are delighted to have advised the shareholders on the sale of its UK and Irish mortgage servicing business to Arrow Global. This represents a great result for both parties and will provide a significant growth opportunity for Arrow Global in the future.”
This transaction continues Quayle Munro’s recent work in the Financial Services sector with recently completed transactions including advising on the acquisition of Shawbrook Group plc, the sale of Bluestep Bank, the sale of Voogd & Voogd, the sale of Nostrum Group and the merger of Bellpenny with Ascot Lloyd.
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Tel: +44 (0)20 7907 4200
About Quayle Munro
Quayle Munro is an independent mergers and acquisitions advisory firm that has an extensive, global track record of working with a wide variety of companies underpinned by data & analytics, content, software and services. We advise on a full spectrum of corporate finance matters including mergers and acquisitions, debt and equity fundraisings, IPOs, public transactions, restructurings, and strategic and valuation advice. The company also provides growth capital on a selective basis. Quayle Munro is particularly adept at working with private-equity-owned and entrepreneurial-led businesses experiencing high growth. For more information please visit our website.