Firstsource Solutions Limited has announced that its wholly owned subsidiary, Firstsource Solutions UK Limited (FSL UK), has signed a definitive share purchase agreement to acquire Pastdue Credit Solutions Limited (PDC), a UK-based debt collection agency. The acquisition deal is valued at GBP 22 million, which includes an upfront payment and performance-linked earnouts.
Founded in 2005, PDC is a Financial Conduct Authority (FCA) registered company operating in the UK. It specializes in white-label, early arrears, and debt recovery services. Over the last three financial years, PDC has shown a healthy performance, with revenues of GBP 16.9 million and an operating profit of GBP 3.4 million in the latest reporting period (Nov 2023–Oct 2024).
The deal is subject to regulatory approvals, including clearance under the National Security and Investment Act 2021 and from the FCA. Once completed, PDC will become a step-down subsidiary of Firstsource Solutions Limited.
This strategic acquisition aims to expand Firstsource’s footprint in the UK debt collection market, aligning with the company’s growth goals in the financial services space. The transaction is not a related party deal, and the consideration will be paid fully in cash.
In the meantime, Firstsource Solutions shares closed at ₹352.80 on July 18. The stock opened the day at ₹358.55 and hit an intraday high of ₹358.55, while the low stood at ₹348.00. Over the past 52 weeks, the stock has touched a high of ₹422.30 and a low of ₹226.62.