£1bn deal for Leeds credit reference business
A Leeds-headquartered credit reference business has been acquired by a US group for £1bn.
Callcredit Information Group, which is understood to be the second largest consumer credit bureau in the UK, has been bought by New York Stock Exchange-listed TransUnion.
Founded in 2000, the Leeds-based company provides data, analytics and technology services to help businesses and consumers make informed decisions. It employs about 1,200 staff.
TransUnion, which already does business in 33 countries worldwide, said the deal will support its international expansion strategy.
David Neenan, president of TransUnion’s International business, said: "We continue to drive growth by identifying and investing in attractive international markets. As a leader in the world’s second largest credit market, Callcredit certainly fits the model.
"And, with the growing trend of multi-bureau usage in the UK, we believe this is the right time to introduce TransUnion into the market."
TransUnion agreed to acquire Callcredit for £1bn (about $1.4bn) with acquisition expected to close late in the second quarter or early in the third quarter of 2018, pending regulatory approval.
Callcredit was previously acquired by Chicago-based private equity firm GTCR in 2014.