Triple Point originates £55m facility for Perch Group as part of enhanced £400m funding platform
Triple Point has originated a new £55m facility for Perch Group, forming part of an enhanced £400m funding platform to support the Group’s continued UK growth.
Triple Point joins Perch Group’s panel of funding partners alongside NatWest Group, Hampshire Trust Bank, Shawbrook Bank, Paragon Bank, and Lloyds, while Quilam Capital, which has supported Perch Group through its period of significant growth, remains a material investor in the business.
Founded in 2016 and headquartered in Blackpool, Perch has grown from a start-up into one of the UK’s leading integrated credit management platforms, combining debt purchasing, customer engagement, legal services, field operations and outsourced contact centre capabilities within a single group structure. The Group now employs over 500 people, manages over one million customers and holds assets under management in excess of £1bn.
Ellis Diamanti, head of specialty finance at Triple Point, said: “Perch is a genuine UK growth story, built outside London into one of the country’s leading credit management platforms with a ten-year track record. We’re pleased to support the business as it enters its next phase of development and look forward to working closely with the team to help deliver its long-term strategic objectives.”
Mark Pickup, chief financial officer of Perch Group, said: “This transaction represents another significant milestone in Perch Group’s growth journey and reflects the confidence that leading financial institutions continue to place in our business, strategy and long-term vision. The expansion of our funding package provides a strong foundation for future growth as we continue investing in technology and delivering outstanding customer outcomes.”
Fieldfisher LLP acted as legal adviser to Perch Group. Hunton Andrews Kurth LLP advised Triple Point and Ashurst Perkins Coie LLP advised the senior lending syndicate.