Market Leads & Opportunities
Morses Club acquires credit lender
Listed home collected credit provider Morses Club has snapped-up a North West-based counterpart.The Batley-headquartered company has acquired the business and assets of Eccles Savings & Loans, trading as Eccles Finance, which has been active in home collected credit for more than 50 years.The acquired business has 3,000 customers and loan balances of about £1.4m. It is authorised and regulated by the Financial Conduct Authority.Panmure Gordon is the nominated adviser and joint broker for Morses Club. Eversheds Sutherland also advised the company on the deal.
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