-Premium Credit acquired by GTCR.
Global Banking News - 02 November 2012
Premium Credit Ltd, provider of payment facilitation and financing services in the UK and Ireland, has been acquired by GTCR, a private equity firm.
The total asset value of Premium Credit was reported to be GBP900m.The company, which was founded in 1988, works with a network of insurance brokers and carriers to facilitate payment of insurance instalments instead of a single, annual payment.
GTCR has plans to expand Premium Credit's customer relationships and improve its technology and services. It also plans on recapitalising and investing more in market leading technology and services.
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