View more on these topics

Skipton sells Callcredit

Skipton Building Society has sold its majority stake in credit reference agency Callcredit Information Group.

Vitruvian Partners, the London-based private equity firm, has purchased the share for an undisclosed amount and will take Skipton’s place on the board. Skipton says the deal will generate £40m profit.

Skipton has been the majority shareholder in the business since it created Callcredit Information Group in 2000. Callcredit was one of 21 subsidaries on Skipton.

CIG employs over 600 people across its sites in Leeds, Bristol and Gerrards Cross. Its annual turnover of around £50m and last year it recorded profits of £5m.

Skipton Group chief executive David Cutter said: “CIG has been a major success story for Skipton of which we are very proud. Our support and guidance has enabled the business to become a serious rival to the major players, from which it continues to take market share.”

Vitruvian founding partner David Nahama says: “CIG sits right in our sweet spot as an entrepreneurial organisation, deploying smart technology and with a strong, customer-centric management team and great strategic opportunities ahead of it.”


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. There would be even greater “strategic opportunities” if it were not for the myopia.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm