Dentons advises Rcapital on its acquisition of Shopacheck Financial Services

March 11, 2014 // Franchising.com // London - Dentons has acted for Rcapital, the London-based private equity investment company, in their acquisition of Shopacheck Financial Services (SFS), the home collected credit business, from Welcome Financial Services Limited.

The transaction will see SFS merge with Rcapital’s existing home collected credit business, Morses Club Limited (MCL), building on the best from both organisations. The revenue of the newly formed business is expected to be in the region of £80 million.

Birstall-based (West Yorkshire) SFS is currently the number two in the UK home collected credit market, behind Provident Financial plc. Combining MCL, currently ranked at number four, with SFS will form a new business with over 500 employees and 2,100 agents, creating the largest independent home collected credit business in the UK. Its combined work force and products will bolster its loan offering to customers and communities nationally.

Jonathan Polin, partner in Dentons' Corporate practice, said: "We were delighted to advise our longstanding client, Rcapital, on this transaction. The work follows on from our representing them in their acquisition of MCL in 2009, when legacy firm Denton Wilde Sapte (now Dentons UKMEA) acted for the administrators of London and Scottish Bank and legacy firm Salans (now Dentons Europe) acted for Rcapital. Our team provided the gamut of legal skills and services and the result should help safeguard hundreds of jobs."

The Dentons team was led by Jonathan Polin and included partners Richard Garvan (Banking), Martin Fanning (TMT), Michael Bronstein (Employment), Rosali Pretorius (Regulatory), Chris Denny (Real Estate) and Marian Boyle (Insurance). Walker Morris acted for Welcome Financial Services Limited.

About Dentons

Dentons is a global firm driven to provide a competitive edge in an increasingly complex and interconnected world. It was formed in March 2013 by the combination of international law firm Salans LLP, Canadian law firm Fraser Milner Casgrain LLP (FMC) and international law firm SNR Denton. Dentons is built on the solid foundations of these three highly valued law firms. Each built an outstanding reputation and valued clientele by responding to the local, regional and national needs of a broad spectrum of clients of all sizes—individuals; entrepreneurs; small businesses and startups; local, regional and national governments and government agencies; and mid-sized and larger private and public corporations, including international and global entities.

Dentons' clients now benefit from approximately 2,600 lawyers and professionals in more than 75 locations spanning 50-plus countries across Africa, Asia Pacific, Canada, Central Asia, Europe, the Middle East, Russia and the CIS, the UK and the US who are committed to challenge the status quo and offer creative, dynamic business and legal solutions.

SOURCE Dentons

Contacts:

Jonathan Polin
Jonathan Polin
Partner, London
D +44 20 7320 6119

Judith Green
Media
PR and Communications Manager
UK, Middle East and Africa
D +44 (0)20 7246 7082

###

Share this Story:

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Golden Corral Buffet and Grill
Golden Corral is the nation's leading family style restaurant franchise featuring steaks, buffet and bakery items.
The Joint Corp.
The Joint® Chiropractic is reinventing chiropractic care. Our vision is to become the largest, most respected provider of chiropractic services...
Jimmy's Egg
Jimmy's Egg is now offering a unique opportunity to a select number of franchisees seeking to develop our proven brand in new markets.
Kona Ice
We have a question for you. What determines the success of a franchise? Is it luck? Coincidence? Kona Ice was ranked #1 New Franchise in Entrepreneur...
Dickey's Barbecue Pit®
Since 1941 Dickey's Barbecue Pit® has been treating customers to great tasting barbecue and has become a restaurant icon in the process! Now you can...

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)