New Cabot Financial Group Announces Leadership Structure and Increased Banking Facilities
Cabot Financial Group, one of the UK’s largest debt purchase and collections companies, today announces the Group’s new leadership team. The announcement follows the acquisition of Cabot Financial by AnaCap Financial Partners and the subsequent merger of Cabot with Apex Credit Management.
Details of the new Group’s leadership team are below:
Neil Clyne – Group Chief Executive
Glen Crawford – Group Managing Director
John Randall – Group Finance Director
Steve Mound – Group Chief Operating Officer
The Group has also secured a new 3 year £180 million banking facility with Citigroup, RBS and Barclays. The increased funding lines allow Cabot and Apex to continue to trade as normal with their existing partners but also allow the enlarged Group to seek out larger strategic deals in the consumer debt market.
Neil Clyne, Group Chief Executive, comments “The new leadership team has a wealth of knowledge of the debt purchase and collections industry and deep senior level expertise. By leveraging the skills and experience within both Cabot and Apex, I believe we have an unrivalled team committed to cementing our position as the leading player in the sector. This is a merger for growth of two successful businesses and I am very excited about our future.
Glen Crawford, Group Managing Director, comments “Our increased funding lines will provide greater scope and opportunity for us to grow our business quickly and demonstrates a firm commitment from our financial partners that they have faith in our business strategy. This is a very exciting time for the Group and I believe that with the new leadership team in place, and support from Anacap and our finance partners, we are perfectly placed to execute our strategy of growth.”
Marc Sefton, director, RBS Structured Finance said: “We are delighted to be a funding partner to the newly enlarged Group. It’s an exciting time to be involved with the business and we expect there will be some significant acquisition opportunities emerging in the near future. We were very pleased to support the new Group’s management team and have confidence in their ability to take the business forward”.