GE, Others Arrange Financing for GTCR’s Callcredit Acquisition
GTCR announced that it acquired Callcredit Information Group Limited in partnership with its management team. The acquisition was supported by a consortium of leading banking institutions. GE Capital, HSBC and Lloyds Bank arranged senior financing, while Crescent Capital provided a mezzanine facility. DC Advisory and HSBC advised GTCR on the transaction, and Kirkland & Ellis provided legal counsel.
GTCR’s investment in Callcredit was funded from GTCR Fund X, a private equity fund raised in 2011 with $3.25 billion of equity capital commitments.
GTCR is partnering with CEO John McAndrew, managing director, Graham Lund, and the rest of Callcredit’s existing management team to invest in the growing, highly recurring technology-enabled business with significant opportunities for value enhancement.
“We are delighted to partner with John McAndrew and the Callcredit management team,” said Collin Roche, managing director at GTCR. “We believe that Callcredit is well-positioned to continue its growth and success within the rapidly evolving areas of consumer credit and data analytics, and we look forward to supporting John’s vision of building the leading company in this segment. GTCR looks forward to supporting continued product innovation and investment while pursuing opportunities for expansion, geographically and through acquisitions.”
“I am confident that, in GTCR, Callcredit has found the ideal partner to support its ongoing mission of enabling smarter decisions,” stated CEO John McAndrew. “This new partnership will ensure that Callcredit maintains the agility and customer-focused culture that have underpinned its success to-date, while empowering us to continue to provide our clients with more innovative data solutions. GTCR’s strong financial backing and its experience in the UK and global financial services and technology markets will help realize our vision for Callcredit.”
Aaron Cohen, managing director at GTCR, added, “The acquisition of Callcredit underscores GTCR’s extensive experience in the financial technology and data analytics sectors. Moreover, the transaction demonstrates our commitment to leveraging the domain expertise and relationships that our firm has developed in the United Kingdom, specifically around the implications of evolving software, data and analytics, consumer credit and regulatory trends.”
Leeds, England-headquartered Callcredit employs approximately 1,000 professionals in Leeds, Hatfield, Kent, Bath, London, Swindon and Warrington.