26 Jan 2017

Completion of acquisition by Cinven and CVC

LONDON - 26 January 2017 - NewDay, a leading UK consumer finance provider specialising in the near-prime and co-brands sectors of the UK credit card market, today announced that, following receipt of the necessary regulatory and anti-trust approvals, the acquisition of NewDay by funds advised by private equity firms Cinven and CVC Capital Partners first announced on 11th October 2016 has now completed. 

Cinven and CVC will work with NewDay to support the company’s ongoing growth. The NewDay management team continues to be led by Chief Executive James Corcoran, who joined NewDay in 2009.

For more information:

Tom Murray, Tulcan Communications, 020 7353 4200 / tmurray@tulcangroup.com

About Cinven and CVC

Cinven and CVC Capital Partners are leading global private equity firms with a strong track record of investing in and successfully growing financial services businesses. Cinven’s financial services investments have included: Avolon, Premium Credit, JRP Group (formerly Partnership Assurance), Viridium (formerly Heidelberger Leben), Ergo Italia, and Guardian Financial Services. CVC’s financial services investments have included: Avolon, Brit Insurance, Domestic & General, the RAC and Skrill.

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