Cabot Financial Group Announces New Leadership Team

Cabot Financial Group, one of the United Kingdom’s largest debt buying and accounts receivable management companies, announced its new leadership team today.  The statement follows the acquisition of Cabot Financial by AnaCap Financial Partners and the subsequent merger of Cabot with Apex Credit Management.

Cabot’s new executives include Neil Clyne, group chief executive; Glen Crawford, group managing director; John Randall, group finance director; and 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, said, “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, noted, “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.”

Cabot Financial is a market leader in consumer debt purchase in the UK, founded in 1998.  Cabot is licensed under the Consumer Credit Act and is a registered Data Controller under the Data Protection Act. It is a member of the Credit Services Association and the Consumer Credit Trade Association.