The deal marks Inflexion’s ninth successful exit from its 2003 buyout fund, which first invested £6.3m in the business back in 2005.
Under Inflexion’s ownership Harrington Brooks made four corporate acquisitions, two of which were part funded by additional funds from Inflexion.
At the time of the original deal Harrington Brooks was focused exclusively on debt management, but has since launched into the IVA market under the brand name One Advice.
The business has also launched a variety of additional service lines to customers including assisting with utility bills, right to buy for council tenants, loan consolidation and financial claims for victims of mis-selling to broaden its range of income streams.
The company, which has a team of over 380 employees, has assisted over 100,000 customers during the period of Inflexion’s ownership, and currently has over 37,000 customers with debts formally under management by the company.
“We are proud that during the period of our ownership Harrington Brooks has more than trebled in size, assisted so many distressed consumers without deviating from the best advice model, deepened its service offering and negotiated the tough trading period unscathed,” said Inflexion partner Tim Smallbone, who led the sale process.
“The company is now in a position to move onto the next stage of its development with RJD and we wish the team every success in the future.”
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