Private Equity Firm Acquires Stake in UK Collector Sigma Financial Group

The Sigma Financial Group Limited is pleased to announce that funds managed by Cyrus Capital Partners, L.P. have acquired a majority stake in the company.

Cyrus Capital is buying out a minority investor and making a substantial investment to enable Sigma to broaden and expand its business. The existing management team comprising Tim Freeman as CEO, Mike Harfield as Managing Director Operations and Strategy and Gary Gilburd as Managing Director of Sales and Recoveries will continue to be investors alongside Cyrus Capital.

Sigma currently provides contingency collection services in the UK to international and domestic financial and commercial clients. Sigma, with the backing of Cyrus Capital, will accelerate the build out of its business to incorporate white label collections through Sigma White, contingency collection services through Sigma Red and litigation services to be provided in partnership with HL Legal Solicitors.

Cyrus Capital is committed to Sigma’s business plan and intends to evaluate and purchase non-performing unsecured consumer loans, establishing a presence in the UK market via multiple transactions. Initially Cyrus Capital will review individual portfolios each with a purchase price of up to £20 million. Sigma Red will provide all servicing capabilities in connection with these portfolio purchases.

Cyrus Capital is a leading institutional asset management firm with offices in London and New York and currently manages approximately $2 billion of equity capital.

Tim Freeman, CEO of Sigma, said, “We are delighted to have teamed up with Cyrus Capital who share our view of the opportunity to build Sigma into a best-in-class provider of contingency collection services in the UK. They are willing to make a significant commitment to portfolio purchase as well as building operational excellence. Together we are aiming to create one of the best collection platforms in the UK that will rival standards set not just in the UK but also in the US and Europe.”