LONDON (Alliance News) - Morses Club PLC said Tuesday that it has further expanded its presence in the north of England with the acquisition of home collected credit lender Hays Credit LLP for an undisclosed sum.
The London-listed home collected credit lender said the Hays Credit acquisition will complement its recent buy of Eccles Savings & Loans Ltd, a north west England-based home collected credit business. The Eccles Savings acquisition was announced in January.
Hays Credit, which has been operating since 1957, provides loans to around 2,700 customers. It has outstanding balances of around GBP1.6 million.
"I am delighted to announce this acquisition and welcome Hays' customers to Morses Club. Hays is a high-quality business and further expands our offering for clients in the North East," said Morses Club Chief Executive Paul Smith.
Shares in Morses Club were trading 2.2% higher at 154.50 pence each on Tuesday morning.
