Credit Corp Group Limited
(ASX:CCP) has announced it has acquired receivables management company National Credit Management Limited from ASX listed Thorn Group.
Credit Corp Group paid $22.6 million for the business, which operates across both Australia and New Zealand.
National Credit Management comes with a Purchased Debt Ledger of $20 million, 90 staff and 120 client agency agreements.
Thorn Group has indicated the sale of its receivables business will allow it to focus on its two primary businesses Radio Rentals and business finance.
Credit Corp Group Limited reported a net profit of $45.9 million at 30 June 2016.
