MoneyPlus Group set to soar as they acquire debt advice firm Bright Oak
MoneyPlus Group, a debt solution company based in Manchester, has successfully completed on the purchase of Bright Oak Limited, a Debt Advice & Debt Management company.
The transaction marks the 22nd acquisition for MoneyPlus Group as they embark on an ambitious growth project seeking to cement their position as the largest commercial debt advice firm in the UK.
MoneyPlus Group takes pride in providing best-in-class customer service and has helped tens of thousands of people to overcome the stress, anguish and sense of hopelessness that can come from holding unsustainable levels of personal debt.
As with any acquisition of this nature, rigorous protocols are in place to ensure positive customer outcomes, and the acquisition only took place following a Change In Control being granted by the Financial Conduct Authority (FCA), which in itself is a detailed due diligence exercise with consumers at its heart.
The group has seen substantial investment over the last 2 years from both Intriva Capital and Oak North Bank, and has spent that time fine-tuning internal operations, ready for significant scaling. There is no firm in the UK debt advice sector that has completed on as many acquisitions, and with more due to complete later this quarter, MoneyPlus Group is set for substantial growth this year.
Chris Davis, Chief Executive Officer at MoneyPlus Group says: ‘This acquisition is the first in a series of steps we have in place to further establish MoneyPlus Group as a leader in the commercial debt advice sector. Sustainability is important to me, and the rest of the executive team here, so we’re deliberately strategic in our growth plan. In the current economic climate, it’s clear that more of the UK will need help with their finances. We want to ensure that we continue to provide the best advice, and the highest levels of service to people in financial difficulty as our business scales. We’re looking forward to welcoming Bright Oak customers to MoneyPlus Group and supporting them to reach their financial goals.’