Orbis Collect Another Deal

Orbis Partners have completed their second deal in as many weeks with the disposal of Recodebt Limited, a debt collection agency trading as CCSG. The deal also involved West Midlands law firm Higgs & Sons, who provided legal advice to the private shareholders. The CCSG business, based in Bromsgrove, has been sold to Sigma Financial Group.

CCSG was founded in 1973 and has grown to become one of the UK’s leading debt collection agencies, focused on debt collection and credit control for utilities, telecom companies and government departments. The retiring executive directors will continue in their current roles for a handover period following completion.

The Sigma Financial Group is a rapidly growing contingency collections and portfolio purchase business, backed by funds managed by Cyrus Capital Partners LP. Sigma has already invested in a number of portfolios of non-performing consumer loans and has a £125 million facility to support the activity. Earlier this year, Sigma acquired the business of Incasso LLP, through its legal partner HL solicitors.

“All parties were keen for the transaction to cause minimal disruption to the business and on this basis, the transaction team worked long hours and to tight timeframes to see a complicated deal through to a swift and successful conclusion.”
Nick Taylor, Partner at Higgs & Sons

The Orbis transaction team included Simon Lloydbottom, whilst other advisers involved in the deal were Smith & Williamson, who provided tax advice to the shareholders and Taylor Wessing, who provided legal advice to Sigma Financial Group.