A DEBT collection agency founded in a living room in Wimbledon was sold yesterday to a JC Flowers-backed business for £295m, netting its founder about £25m.
Marlin Financial, which was founded 12 years ago by entrepreneur
The acquisition marks the first major move by Cabot since it was snapped up by JC from rival private equity group AnaCap last May. JC - founded by J Christopher Flowers (pictured) - subsequently sold 50 per cent of the firm to
The deal will see Cabot buy Dunphy's 20 per cent stake, a 58 per cent controlling stake owned by private equity rival
Irishman Dunphy, who said he is now eyeing opportunities in
"One of the nice things about the business is that we built it around a differentiated model so it's hard to replicate," Dunphy said.
The deal is set to boost Cabot's backbook of credit as well as turning over Marlin's litigation expertise to the business.
"We were looking at the company back in October. It was a competitive process but it went quite smoothly," Cabot chief financial officer
For Marlin's private equity backers, the deal marks a substantial return.
Duke Street, which bought a Marlin stake for £12.5m in
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