Swedish ARM Firm Buys UK Debt Collection Agency

Stockholm-based debt buyer and collector Hoist Kredit AB said late Monday it has acquired Manchester, UK-based debt collection agency Robinson Way Limited. Terms of the deal were not disclosed.

Robinson Way has 130 call center staff based in suburban Manchester and a 900-strong network of self-employed debt collectors across the UK. The company reported revenues of $31.1 million in 2011.

The company was a subsidiary of London Scottish Bank which filed for bankruptcy protection in November 2008. Administrators operated the subsidiary outside of liquidation before it was bought out by management in 2009, led by managing director Graham Prosser and operations director Bill Murray.

Prosser will become chief executive officer of the new wholly-owned subsidiary, which will continue to operate under its Robinson Way trade name.

Hoist is a debt buyer with some 400 employees located in six European countries.