Bristow & Sutor makes second acquisition with Sovereign’s backing
Sovereign Capital Partners, the private equity Buy & Build specialist, is pleased to announce that portfolio company Bristow & Sutor, the nationwide judicial services and debt recovery group, has acquired Credit Style. This is the second acquisition Bristow & Sutor has made since Sovereign backed the management buy-out of the business in June 2017; in 2018, Sovereign backed the Group’s acquisition of DRP.
Established in 1977 and headquartered in Redditch, the Bristow & Sutor group today fully-employs a team of over 450 staff who support the collection of commercial and local authority debt types. The expanded Group will manage c. 1.9 million cases per annum.
The acquisition of Credit Style, broadens Bristow & Sutor’s services into wider debt recovery including in-house legal services and pre-legal collection services; this will enable the Group to provide more customers with an end-to-end service. Credit Style’s clients come from a diverse range of sectors including financial services, utilities, motor finance and commercial collections.
Over the last two years, significant investment has been made in delivering service innovation through Bristow & Sutor’s technology driven data centric approach. This approach provides tailored and targeted solutions, delivering sector-leading collection performance while protecting the most vulnerable in society and the reputation of clients.
The Bristow & Sutor management team is led by Andy Rose, Chief Executive, who has been in the business for over 30 years. At the time of the MBO, Sovereign augmented the team with the appointments of non-executive Chair Andrew Vaughan, who is highly experienced in working with tech-enabled businesses, Brian Maynard, Finance Director and Paul Lillico, Chief Technology Officer. The senior team is supported by a strong operational team, several of whom have been with the business for over 20 years.
Jeremy Morgan, Partner, Sovereign Capital Partners commented: “This is a tremendous development for Bristow & Sutor. Credit Style is a highly-regarded business which has invested heavily in technology to enhance its service offering, and further diversifies the Group’s service offering. We look forward to continuing to work with Bristow & Sutor’s management team to further grow the business organically and via acquisition.”
Andy Rose, Chief Executive, Bristow & Sutor said: “We are delighted to welcome Credit Style and its fantastic team to the Group. We share great business synergies and a reputation for providing a quality service delivery grounded in high standards of professionalism and business conduct. We look forward to further developing our service offering with Sovereign’s continued support.”