Clearwater advises RJD Partners on Harrington Brooks management buyout


Clearwater Corporate Finance has advised mid-market private equity house RJD Partners on its management buyout of Manchester-based debt solutions provider Harrington Brooks.

The acquisition of Harrington Brooks, which is one of the UK’s leading debt solutions providers, delivers an exit for Inflexion Private Equity, which supported the company’s £15m management buyout in March 2005. RJD Partners has taken a majority equity stake in Harrington Brooks in a deal that helps to support the continued growth of the company.

Harrington Brooks employs 380 staff out of its Sale head office and advises over 28,000 people on the repayment of credit by debt management plans and handles Individual Voluntary Arrangements (IVA) for c. 7,000 clients. The company recorded a turnover in excess of £29m for the financial year ending March 2012.

RJD Partners is an independent private equity house, focused on the lower mid-market. With over £250m in funds, RJD Partners invests from £5m to £25m in deals worth up to £75m, predominantly in the UK services and leisure sectors.

Managing partner Mike Reeves and director Nick Horrocks from Clearwater’s Manchester office advised RJD Partners on the acquisition.

Reeves said: “Harrington Brooks presents an excellent growth opportunity for RJD Partners. With its extensive knowledge of the services sector, RJD Partners will be able to build on Harrington Brooks’ already strong book and support the company in taking advantage of a growing consumer debt management market.”

John Dillon, Managing Partner, RJD Partners, commented: “We are delighted to back a well-established and proven management team in the buyout of Harrington Brooks. With UK household indebtedness continuing to rise, there is significant potential for the company to build on its excellent growth track record in a highly fragmented market place. We are confident the team is well positioned to fully exploit this.”