Cabot Financial Expands into Europe with Two New Offices
CABOT FINANCIAL EXPANDS INTO EUROPE WITH TWO NEW OFFICES
Cabot Financial Group, the UK’s leading debt purchaser, has expanded into the European market with a presence in Ireland and Spain.
Cabot Financial has signed an agreement with Gescobro, one of Spain’s premier debt collection agencies, to establish a joint venture to purchase and manage portfolios of debt within the Spanish market. As a result of agreement Cabot Financial has acquired a 20% stake in Gescobro, which is headquartered in Barcelona and has offices in Madrid and Valencia.
In addition, the Group has established an Irish entity based in Dublin, through the acquisition of Kelly Systems, one of the longest established revenue management and debt recovery service providers in Ireland. Kelly Systems has now been rebranded Cabot Financial (Ireland) Limited.
Ken Maynard, Chief Executive of Cabot Financial Group, commented: “We believe that there are significant opportunities for the expansion of the debt purchase within Europe and these new offices mark the beginning of our growth overseas. By working with established debt collection companies within Spain and Ireland, we have an excellent platform to develop our services and become market leader within these markets."