Lowell Group

Innovating financing across an industry

Lowell Group is a UK market leader in the acquisition of portfolios of non-performing consumer debt from a blue-chip client base across financial institutions, telecommunication companies, home shopping retailers and utility companies.

The firm’s strong performance track record results from its sophisticated data management technologies, which provided the business with significant analytical capabilities and a clearly differentiated competitive position in both portfolio acquisitions and collections. Lowell’s recognised thought-leadership on compliance and careful customer management have been core to its operations and critical to maintaining strong client relationships.

  • At a glance
  • Status: Realised
  • Exit Type: Financial Buyer
  • Deal Type: Private Sale
  • Sector: Financial Services
  • Exit Date: October 2015
  • Initial Investment Date: September 2011
  • Website: www.lowell.co.uk


We had been researching the sub-prime financial services space for a number of years and more specifically, the debt purchase sector.

We were attracted by the industry’s high underlying returns on capital, the strong market growth prospects and the opportunity to improve financing structures in the sector. We identified Lowell as one of the most attractive and resilient players in the market and  acquired Lowell from Exponent Private Equity in 2011.

During TDR’s investment

Worked with management to transform the way the industry was financed, expand the company’s business model and drive substantial growth.
  • We identified a strong case for a more flexible financing structure for the debt purchase sector as a whole, working closely with management to reposition the business within the financing markets, highlighting its strong credit characteristics resulting from its significant cash generation and asset backing
  • In March 2012 Lowell issued a high yield bond, and tapped this bond twice subsequently to support the strong growth of the business. As the first of its kind in Europe, the high yield bond created a new source of financing for Lowell and the debt purchase sector as a whole
  • Management drove a strategy of significant asset growth by expanding business capabilities, both organically and through acquisition and focusing on operational efficiency. This resulted in the business almost trebling in size under our ownership
  • In September 2014, we sold a substantial minority stake in Lowell to Teachers’ Private Capital, an investment division of the Ontario Teachers’ Pension Plan Board.
  • We sold our remaining shareholding in the business in October 2015 to funds managed by Permira
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