UK Debt Purchaser Lowell Group on the Block

The fast-growing United Kingdom-based debt purchaser Lowell Group is reportedly up for sale, according to a report in The (London) Sunday Times newspaper. Lowell’s owner Cabot Square has hired Hawkpoint Partners to oversee the deal with some sources saying Lowell could be worth $407.6 million, the paper reported.

Lowell recently reported revenues of $103.6 million for its fiscal year ending August 31, an 87 percent increase from the previous year (“UK Debt Purchaser Passes $100 million Revenue Mark,” 10/3). Lowell had earnings of $27.3 million before interest, tax, depreciation and amortization.

Lowell reported it purchases portfolios of consumer debts from a range of major blue-chip organizations and then manages the recovery of those debts. Lowell employs 280 at its headquarters and call center in Leeds. Lowell’s operations division, Lowell Financial, is currently servicing more than two million consumer accounts with an asset value in excess of $4.7 billion.