Leeds credit reference agency Callcredit acquired in £1bn deal

Callcredit Information Group, the Leeds-headquartered credit reference agency, has been acquired by US-based TransUnion for £1bn.

Callcredit Information Group, which is thought to be the second largest and fastest growing in the U.K., was founded in 2000.

Similar to TransUnion, the company provides data, analytics and technology solutions to help businesses and consumers make informed decisions.

Jim Peck, TransUnion’s president and chief executive officer, said: “TransUnion and Callcredit have strong synergies across our business models and solutions, and we share a commitment to using information to benefit consumers and global economies alike.

“Callcredit is an outstanding acquisition for TransUnion, and together, we’ll be a powerful force to deliver value to shareholders, customers and consumers across all the markets we serve.”

David Neenan, president of TransUnion’s international business, added: “We continue to drive growth by identifying and investing in attractive international markets. As a leader in the world’s second largest credit market, Callcredit certainly fits the model.

“And, with the growing trend of multi-bureau usage in the U.K., we believe this is the right time to introduce TransUnion into the market.”

TransUnion agreed to acquire Callcredit for £1bn, which is approximately $1.4bn at today’s exchange rate. The acquisition is anticipated to close late in the second quarter or early in the third quarter pending regulatory approval.

Mike Gordon, Callcredit chief executive officer, commented: “Investment by a global company with an established track record, shared values and leadership who recognized our market potential is absolutely the right fit for us and the market.

“We are excited about the future and unique opportunity to elevate our competitive advantage with TransUnion through our combined innovation and expertise.”

A team from Squire Patton Boggs, led by Paul Mann, Craig Pettit and Emily Downie advised the management of Callcredit on the deal.

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