Quayle Munro is pleased to announce that it has advised Nostrum Group (“Nostrum”), a leading provider of loan software solutions for banks, finance companies and retail brands, on its sale to Equiniti Group plc (LON: EQN; “Equiniti”), a leading specialist in technology, finance and administrative services. The acquisition strengthens Equiniti’s footprint in the lending sector and supports the strategy of providing technology-enabled loan and mortgage solutions to meet the requirements of this fast-moving market place. It is consistent with the acquisition of loan technology provider Pancredit in 2014 and loan brokerage firm Gateway2finance in January 2017.
Nostrum utilises their proprietary product suite to service consumer loans through the full lending lifecycle. Nostrum services loans from initial lead capture through to payout, as well as offering full servicing and collection solutions. Founded in 2001, Nostrum has over 70 staff and is based in Harrogate.
Richard Carter, CEO of Nostrum Group, said: “We are delighted to announce the transaction. We see great opportunity to expand the business and services we provide with the support of Equiniti, creating a fantastic platform for growth. We would like to thank Quayle Munro for their strategic guidance and expertise, and their intimate knowledge of the buyer landscape without which we could not have reached an agreement with the right partner going forward.”
Christian Kent, Managing Director at Quayle Munro, said: “We identified Equiniti as a great partner for the business early on in our engagement with Richard and the team at Nostrum and are delighted to see them reach a transaction. This transaction adds to our strong track record in the financial technology sector.”
Mark Fisher, Managing Director at Quayle Munro, said: “There was tremendous strategic rationale for the combination of Nostrum and Equiniti and we are pleased to have been able to facilitate the transaction. This represents a great result for both businesses and their client base, and will enable a significant growth opportunity in the future.”
This transaction continues Quayle Munro’s recent work in the financial technology sector with recently completed transactions involving Broadridge, FactSet, Moody’s, Tech Mahindra and Verisk Analytics.