GTCR and management to buy ownership stake from existing holder Vitruvian
Chicago-based private equity house GTCR has agreed to buy credit data firm Callcredit.
The private equity house has teamed up with Callcredit management to buy the company from existing owner Vitruvian, a mid-market private equity firm, which has owned Callcredit since 2009.
Callcredit provides credit data to UK financial services companies, including insurers. Insurers use the credit data to inform underwriting decisions.
The company said it would continue to pursue its current strategy under the new ownership.
Callcredit chief executive John McAndrew said: “I am extremely pleased that Callcredit is partnering with GTCR. They understand technology and added-value growth.
“They are very clear in wanting us to continue to succeed by helping our customers thrive in this challenging environment of increasing regulation, rapid technological change, and heightened competition.”
GTCR managing director Collin Roche added: “We believe that Callcredit is perfectly positioned to continue its success and growth within the rapidly evolving areas of consumer credit and data analytics, and we look forward to supporting John’s vision of building upon the company’s strong service-oriented culture, innovative and expanding product portfolio, and leading technology infrastructure.”