Maven investee Claven Holdings acquires key competitor

Maven has backed existing investee business Claven Holdings in its acquisition of Debt Management Services Ltd (DMS), including specialist mortgage debt recovery agency Capital Recoveries. 

Maven clients invested alongside Clarity Credit Management Limited to support the expansion of Northamptonshire based Claven, which is one of the leading dedicated field management providers to the UK lending sector and serves clients in the banking, utility and insurance sectors. 

The acquisition of DMS, which offers a complementary service to Claven and operates in the same market, will create the largest provider of field support services in the UK. The enlarged group, which will now be operating under the trading names of Fieldcall, PSP, DMS and Capital Recoveries, provides a UK network of 250 fully-certified field agents who undertake personal customer visits, using a state-of-the-art paperless case-management system, and enable lenders to engage directly with customers to resolve payment arrears. 

The business now has the capacity to expand its activities into other financial services related markets, as part of a growth and development strategy which is focused on making further acquisitions to ensure that the best-in-class Claven platform is leveraged across complementary sectors.

Mike Collis, Portfolio Manager at Maven, said: “This acquisition is a key step in Claven’s expansion strategy, and DMS is a perfect fit for the business going forward. The enlarged group now offers a best-in-class service to clients engaged in secured and unsecured lending, with a strong platform from which to  improve the effectiveness and efficiency of its clients operations through its nationwide field-visit network. We look forward to supporting Andy and his team as the business continues to grow.”

Andy Fowler, Managing Director at Claven, added: “We identified that our core market was going through fundamental structural change and that there was an opportunity to undertake a simultaneous consolidation and diversification strategy in order to de-risk our business model and maximise the value of the business. Our investors understood what we were trying to achieve and have been supportive throughout the acquisition process. It has been a great team effort.”