Private equity investor Inflexion recently announced the sale of consumer debt solutions provider Harrington Brooks in a secondary buyout deal to investor RJD partners.
The deal means Harrington Brooks is valued at three times more than when it was bought by Inflexion in 2003, marking a successful return on Inflexion's initial investment.
Under Inflexion’s ownership, Manchester-based Harrington Brooks had shifted its business focus from debt management to offering IVA packages for consumers under the trade name of One Advice, as well as providing back office administrative services to other debt solution providers. They made four corporate acquisitions during the period, and grew to around 380 employees.
Inflexion partner Tim Smallbone, who led the sale process, said: “We are proud that during the period of our ownership Harrington Brooks has more than trebled in size, assisted so many distressed consumers without deviating from the best advice model, deepened its service offering and negotiated the tough trading period unscathed.
The company is now in a position to move onto the next stage of its development with RJD and we wish the team every success in the future.”