Cabot Financial Expands into Ireland
CABOT FINANCIAL EXPANDS INTO IRELAND
Cabot Financial Group, market leader in consumer debt purchase in the UK, has expanded into the Irish market with the establishment of Cabot Financial (Ireland) Limited, based in Dublin.
Cabot Financial has entered the market 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.
The acquisition is part of Cabot Financial’s strategy to expand further into Europe and closely follows 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.
Sean Webb, Chief Operating Officer of Cabot Financial (Ireland) Limited, commented. “We believe that there are significant opportunities for the expansion of the debt purchase industry within Ireland. Cabot Financial is a pioneer of debt purchase within the UK and, combined with our existing expertise in debt recovery, offers an excellent platform form which we can achieve similar success within the Irish market."
Ken Maynard, Chief Executive of Cabot Financial Group, commented: “With the growth of consumer debt within Europe, we are seeing an unprecedented demand from lenders for debt purchase solutions. Our long track-record, emphasis on ethical, customer focussed collections, sophisticated data analysis techniques and the local market knowledge provided by our new offices, enables us to offer an unbeatable proposition for lenders seeking innovative and cost effective ways to manage their arrears debts.”