Praesidian Capital Europe (Praesidian), a provider of senior and subordinated debt and growth capital in the United Kingdom and Northern Europe, has made a GBP8.0 million investment of first lien debt in UK claims management business EMC Advisory Services (EMCAS).
The funds support the July 2016 buyout of the Company by incumbent management team James Scarth and Richard Hopwood and the realisation of their growth plan through increased investment in the Company’s leading operational platform as well as providing funds for acquisitions.
EMCAS, headquartered in Exeter, Devon, provides services to consumers who are unaware, or unwilling, to claim redress for losses suffered as a result of malpractice by institutions when selling and providing financial products and services. The Company provides claims services across a broad spectrum of financial products including payment protection insurance, mortgage endowments, packaged bank accounts, savings and investments, and pensions.
James Scarth, Joint-MD, says: “Acquiring EMCAS is a unique opportunity for Richard and me to implement our growth plan and expand the business in the UK. Praesidian’s capital and investment background will help us further our mission to provide diversified services and to serve more consumers who have been affected by malpractice.”
Christian Heidl, Partner of Praesidian Capital Europe, says: “EMCAS is a leader in its sector with systems and processes in place to take advantage of a changing market. We are excited to partner with a strong management team that can drive change and growth for the Company in years to come.”
According to Jason Drattell, Founder of Praesidian Capital: “We are pleased to welcome EMCAS to our portfolio of companies. EMCAS is Praesidian Capital Europe’s eighth investment in the Fund, and we are excited about the opportunity to provide support for this business going forward.
