Cabot Credit Management (CCM), a manager of consumer debt, has acquired Marlin Financial Group, a specialised debt buyer, for £295 million.

As part of the agreement, Ken Stannard, Marlin’s CEO, has been appointed CEO of CCM with the current CEO, Neil Clyne, stepping down to pursue other interests.

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Stannard said: "We are delighted to bring together two industry leaders with their own unique strengths. Together, the companies are well placed to become the purchaser of choice for UK vendors."

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