Clode Group receive investment from Oregon Capital Partners for acquisitions and future growth

Clode retail finance logo

Clearwater Advisor

Press Release

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.

“The retail promotional finance market has seen a significant increase in demand through the recession as retailers focus on retaining customers and driving sales. This has happened at the same time as a reduction in the supply of funding to the market due to the effects of the credit crunch. This represents a fantastic opportunity for us to expand our business.”

Nick Davies, Chief Executive Officer, Clode

“This is a truly great time in the market for Clode. The development capital that we have helped raise, supported by structured banking facilities, will be used by the company to take advantage of its unique online credit assessment technology and significantly grow its share of this dynamic market.“

Chris Smith, Partner, Clearwater International