A credit management company has added another acquirer and collector of non-performing unsecured consumer debt to its portfolio.

Cabot Credit Management, based in Kings Hill, has bolstered its services with the acquisition of Hillesden Securities Ltd, trading as dlc from its parent company Faccenda Investments.

Dlc has been purchasing portfolios since 1994 and is one of the oldest debt purchasers in the UK.

They have established themselves with a track record in both financial and non-financial services assets.

The acquisition has largely been financed though existing cash facilities, along with a bridge loan.

The Kings Hill company has purchased the Brackley office, which will see them take on 300 employees located there.

Ken Stannard, CEO at Cabot Credit Management said: “This purchase of dlc and its portfolios is a natural part of the ongoing consolidation in the UK debt purchase market, and takes Cabot’s 120 month ERC closer to £2 billion.

“The purchase of dlc’s portfolio represents an opportunity to bring on board a large number of portfolios in a single purchase, as well as adding exciting new BPO capabilities. We see substantial uplift opportunity to dlc’s ERC through leveraging CCM’s enhanced non-pay strategies and scorecards. We look forward to welcoming the dlc management team and employees to the CCM group.”