Clearwater International has advised Clode Group Ltd (“Clode”) on its acquisition of Clode Funding Limited, which trades as Clode Retail Finance, and V-12 Holdings Limited, which trades as v12finance.com.
Oregon Capital Partners, in partnership with a leading family office and the Clode senior management team, have invested £6 million of capital to fund the acquisitions and future growth of the business. In addition to this, Clode has also secured a new three-year £35m funding facility from RBS Financial Institutions Group.
Clode is the largest independent provider of point-of-sale retail finance to the customers of UK retailers, a market that sees over £3.5bn of lending per annum. Headquartered in Cardiff, Clode delivers its interest free and interest bearing credit products in multi-channel environments utilising the v12finance market-leading online credit application software.
Clode is led by Chief Executive Officer, Nick Davies, who joined the business in 2002 and has over 20 years’ experience in the retail credit sector together with Group Finance Director, Jeremy Morris and Group IT Director, Matthew Hatton.