Japanese Investment Firm Acquires Another UK Debt Collector

Nikko Principal Investments Limited (NPIL) has acquired an 85% stake in UK-based collection agency Clarity Credit Management Solutions Ltd, according to multiple press releases. NPIL is the European investment arm of Nikko Cordial Corporation of Japan, one of the largest securities companies in Japan.

Clarity was formed just over one year ago by Garry Stran and Richard Griggs. Both Stran and Griggs will retain a minority ownership interest in the company and Stran will continue as Chief Executive with Griggs taking on the new role of Director of Corporate Development.

The purchase of Clarity continues NPIL’s investment in the financial services sector and follows NPIL?s acquisition earlier this year of Cabot Financial, the UK?s leading purchaser of non-performing debt. NPIL?s David Jeffery and Simon Oakland, both of whom were involved in the Cabot transaction, will take up Board positions at Clarity.