UK Debt Management Firm Considering Going Public

by Mike Bevel, CollectionIndustry.com

Baines & Ernst, a leading UK debt management firm, failed in its attempt earlier this year to sell itself to a private equity company. So it?s now looking to Plan B: going public.

The private sale didn?t fail for lack of interest. A number of private equity firms including Barclays Private Equity expressed interest in Baines & Ernst; however, the sale process stalled when bids fell considerably short of the asking price.

According to a story running on TheBusinessOnline.com, Baines & Ernst is said to have immediately begun preparations for an initial public offering (IPO) at a time when a number of other debt management firms are planning to either sell themselves to a third party or float on the stock market. Debt managers have become highly profitable companies in recent years as the level of personal debt in the UK has soared to record levels.