31st March 2005
Allclear Finance, a top tier supplier of debt solutions and financial planning services to the rapidly growing UK consumer credit market, has been sold to a management buyout team backed by Inflexion Private Equity.
The business, lead by Chris Holmes, intends to broaden its service proposition, including providing increased access to needs-based, advice driven debt solutions through a best advice model. Funds managed by Inflexion invested £6.3 million in the buyout of the group which now umbrellas the debt advisory business, an FSA regulated financial product sales company and a compliance entity.
The Royal Bank of Scotland provided the debt facilities. Management including Chris Holmes and Terry Sweeney also invested in the business alongside Inflexion Private Equity.