OakNorth, which claims to serve as the digital bank for entrepreneurs, by entrepreneurs, has provided a £3.3m loan to debt recovery company, BPO Collections, a wholly owned subsidiary of Canadian-based, Everyday People Financial Corp.
Established by Graham Rankin back in 2006, the firm remains focused on professionalism, and a drive to work closely with its customers. It aims to find the most viable and affordable arrangements, “each tailored to customers’ individual financial circumstances.”
Based in Ayrshire in South West Scotland, the firm’s clients include several blue-chip firms, like Vodafone and Sky, and HMRC.
The £3.3m loan from OakNorth will reportedly be used to support BPO Collections’ acquisition of debt collection agency, CCS Collect.
Established in 1975 and headquartered in Surrey, the firm has reportedly built a reputation for helping consumers with their debts, including “unpaid credit cards and utility bills, as well as fines for not paying tax on time.”
With customers including “well-known” businesses, such as Sky and the DVLA, CCS Collect offers a customer portal that allows clients “to manage their accounts easily and efficiently.”
Graham Rankin, Founder & CEO of BPO Collections commented that dealing with debt shouldn’t be “a stressful process, especially if you have a supportive, patient, and highly capable team on hand to help.”
Rankin further noted that they have always been impressed with CCS Collect’s strong reputation and growth and are pleased “to be joining forces to support even more customers.” They pointed out that this acquisition wouldn’t have been possible “without the support of OakNorth – like them, they clearly have a strong focus on customer experience, and a team of experts who will work with you to find the best way forward.”
Fraser McPhail, Senior Director of Debt Finance at OakNorth, added that the management team behind BPO Collections, “led by industry stalwart, Graham Rankin, is highly experienced and has an excellent track record.”
McPhail also mentioned that the firm’s client base continues to build organically with “longstanding relationships with some of the UK’s biggest companies.” They further noted that with demand “for debt collection services expected to grow and the acquisition of CCS Collect now complete, BPO Collections is well placed for future growth.”
