Latest news with #SanjivGoenka
Scotsman
a day ago
- Business
- Scotsman
Firstsource to acquire Scottish-headquartered Pastdue Credit Solutions
Firstsource Solutions Limited, a leading global provider of specialist domain-led Business Process Services (BPS), has announced that it has signed an agreement to acquire Pastdue Credit Solutions, a prominent UK-headquartered debt-collection business serving many of the UK's market leading companies, including banks, utility firms, telecoms companies, and government bodies. Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The acquisition is subject to Financial Conduct Authority (FCA) approval. Dr. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, 'We are excited by the opportunity this acquisition could bring. Pastdue Credit Solutions' deep expertise in first- and third-party collections, particularly across utilities, financial services, and the public sector, strengthens our capabilities in a space that is both critical and growing. Advertisement Hide Ad Advertisement Hide Ad "Just as importantly, this move underscores our long-standing commitment to UK employment. We continue to believe that investing in local talent and infrastructure is integral to building a long-term sustainable business. Dr. Sanjiv Goenka - Chairman of RPSG Group and Firstsource. 'This acquisition aligns with our long-term strategy to build a differentiated collections business with strong sectoral depth and local delivery capabilities across the UK. "We're confident in the cultural and operational fit, and we look forward to welcoming the Pastdue Credit Solutions team as we scale this platform together—with resilience, relevance, and responsibility.' The acquisition comes at a pivotal time for the UK collections market. With rising consumer debt, a growing role for private agencies in public sector collections, and over £1.9 billion in market opportunity, the demand for responsible, tech-enabled solutions has never been greater. Advertisement Hide Ad Advertisement Hide Ad By combining its digital-first, AI-driven capabilities with local expertise, Firstsource is strongly positioned to scale with purpose - delivering greater value to clients, supporting public priorities, and expanding its footprint in a market poised for long-term growth. Phil Grant, Chairman of Pastdue Credit Solutions,said, 'We are proud to be joining the Firstsource family. This partnership has the potential to enable a new and exciting chapter for our people, our valued clients, and our future. "With Firstsource's global reach, deep domain expertise, and strong culture of innovation, coupled with its long-established credentials in debt collection, this move will pave the way for us to scale our impact, strengthen our services, broaden our offering and unlock new opportunities together.'
United News of India
5 days ago
- Business
- United News of India
Firstsource to acquire UK's Pastdue Credit Solutions
Bengaluru, July 18, 2025 (UNI) Firstsource Solutions Limited, a leading provider of specialist domain-led Business Process Services and part of the RP-Sanjiv Goenka Group, today announced the signing of a definitive agreement to acquire Pastdue Credit Solutions, a prominent UK-based debt collection firm. The deal, subject to regulatory approval from the UK's Financial Conduct Authority (FCA), marks a strategic expansion for Firstsource in the growing UK collections market. RP-Sanjiv Goenka Group Chairman Sanjiv Goenka stated, "Pastdue Credit Solutions' deep expertise in first and third-party collections across sectors like utilities, financial services, and the public sector strengthens our capabilities in a critical and expanding market. This acquisition reflects our continued commitment to investing in UK talent and infrastructure." He emphasised that the acquisition aligns with Firstsource's long-term strategy to build a differentiated collections business with strong local delivery and sectoral depth. Pastdue Credit Solutions serves several market-leading UK institutions, including major banks, utilities, telecoms providers, and government entities. The UK collections industry, valued at over £1.9 billion, is experiencing surging demand for responsible and technology-enabled solutions amidst rising consumer debt and a growing reliance on private agencies in public sector collections. Commenting on the development, Phil Grant, Chairman of Pastdue Credit Solutions, said, 'We are proud to join Firstsource. Their global scale, digital-first capabilities, and strong culture of innovation offer immense potential to scale our impact and enhance our services.' Firstsource recently ranked third among Indian employers in the UK in the India Meets Britain Tracker 2025 by Grant Thornton, underscoring its ongoing investment and workforce commitment in the region. The transaction is expected to close following FCA approval. UNI BDN BM
News18
5 days ago
- Business
- News18
Firstsource to acquire UK-headquartered Pastdue Credit Solutions
New Delhi, Jul 18 (PTI) Firstsource Solutions on Friday announced it will acquire Pastdue Credit Solutions, a debt-collection business serving several of the UK's banks, utility firms, telecom companies, and government bodies. The acquisition is subject to Financial Conduct Authority (FCA) approval, said Firstsource Solutions, a provider of domain-led Business Process Services (BPS). The RP-Sanjiv Goenka Group company, however, did not divulge the financial details or size of the buy. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, 'Pastdue Credit Solutions' deep expertise in first- and third-party collections, particularly across utilities, financial services, and the public sector, strengthens our capabilities in a space that is both critical and growing". The acquisition aligns with the company's long-term strategy to build a differentiated collections business with sectoral depth and local delivery capabilities across the UK, he added. The latest acquisition comes at an opportune time, it further said, citing the prospects in the UK collections market. By digital-first, AI-driven capabilities with local expertise, Firstsource said it is strongly positioned to scale with purpose, delivering value to clients, supporting public priorities, and expanding its footprint in a market poised for long-term growth. Phil Grant, Chairman of Pastdue Credit Solutions, said, 'With Firstsource's global reach, deep domain expertise, and strong culture of innovation, coupled with its long-established credentials in debt collection, this move will pave the way for us to scale our impact, strengthen our services, broaden our offering and unlock new opportunities together". PTI MBI MBI SHW (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 18, 2025, 20:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
5 days ago
- Business
- Business Standard
Firstsource signs pact to acquire UK-based Pastdue Credit Solutions
Firstsource Solutions Limited, a part of the RP-Sanjiv Goenka Group, has announced a deal to acquire Pastdue Credit Solutions, a UK-based debt collection company, which serves several of the United Kingdom's (UK's) leading organisations, including major banks, utility providers, telecom firms, and government agencies. The acquisition is subject to UK's Financial Conduct Authority (FCA) approval, Firstsource announced in an exchange filing. Firstsource Solutions is a global provider of specialist Business Process Services (BPS), delivering end-to-end customer lifecycle solutions across industries such as healthcare, telecom and banking, financial services and investments (BFSI). Founded on July 21, 2005, Pastdue Credit Solutions offers white-label, early arrears, and debt collections and recovery services. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, 'Pastdue Credit Solutions' deep expertise in first- and third-party collections, particularly across utilities, financial services, and the public sector, strengthens our capabilities in a space that is both critical and growing. This acquisition aligns with our long-term strategy to build a differentiated collections business with strong sectoral depth and local delivery capabilities across the UK.' Phil Grant, Chairman of Pastdue Credit Solutions, said, 'With Firstsource's global reach, deep domain expertise, and strong culture of innovation, coupled with its long-established credentials in debt collection, this move will pave the way for us to scale our impact, strengthen our services, broaden our offering and unlock new opportunities together.' The company aims to use artificial intelligence and digital-first approach, "With rising consumer debt, a growing role for private agencies in public sector collections, and over £1.9 billion in market opportunity. Firstsource is strongly positioned to scale with purpose - delivering greater value to clients and expanding its footprint in the market." Pastdue Credit Solutions was recently ranked third among top Indian employers in the UK, according to the India Meets Britain Tracker 2025 report by Grant Thornton. From November 2023 to October 2024, Pastdue Credit Solutions Limited reported a turnover of £16.9 million, marking a 40.8 per cent increase year-on-year, and an operating profit of £3.4 million, up 277.8 per cent YoY. From November 2022 to October 2023, the company recorded a turnover of £12.0 million, a 3.2 per cent decline from the year before, and an operating profit of £0.9 million, down 52.6 per cent. For the period from November 2021 to October 2022, turnover stood at £12.4 million, with an operating profit of £1.9 million.
India.com
15-07-2025
- Sport
- India.com
Star cricketer and member of Rishabh Pant's LSG to return in his role for Sanjiv Goenka's team, his name is…
Former South Africa all-rounder Lance Klusener is the assistant coach of Rishabh Pant's Lucknow Super Giants in the Indian Premier League (IPL). Klusener, on the finest finishers of the game, plays second fiddle to head coach Justin Langer at LSG. However, when it comes Sanjiv Goenka's other team – Durban Super Giants in SA20 league – Klusener is the man in charge. On Tuesday, the DSG management announced that Klusener will be back in his role as the head coach of the Durban-based franchise for the SA20 2025-26 season. The 53-year-old has been associated with the Durban Super Giants for the last four years, since their inaugural SA20 season. Under his guidance, the team reached the SA20 finals in Season 2, and although Season 3 was a challenging campaign, the franchise remains committed to its long-term vision of building a title-winning unit. Durban is my home, coaching this franchise is more than a job: Lance Klusener Klusener turned out in 49 Tests and 171 ODI matches for South Africa. He scored 1906 Test runs and 3576 runs in ODI cricket. 'It's a privilege to continue this journey with the Durban's Super Giants and the RPSG Group. The support and belief shown in me is deeply appreciated. I look forward to building something even more special this season,' Klusener said. 'We've laid the foundation over the past three years. Now, it's time to build a team that can consistently challenge for the title and make Durban proud. Durban is my home. Coaching this franchise is more than a job—it's a mission to build something enduring with our fans and players,' he added. Lance Klusener grateful for owner Sanjiv Goenka's support Indian industrialist and owner of RPSG group, Sanjiv Goenka, is the owner of Durban Super Giants like LSG in IPL as well. Head coach Klusener also expressed gratitude to the ownership group. 'Working with Dr. Sanjiv Goenka and the RPSG Group has been one of the most professionally rewarding relationships in my coaching career. Their clarity of vision and commitment to the players and fans makes this franchise truly world-class,' Klusener said. Meanwhile, Goenka was delighted to retain the services of Klusener as head coach of DSG. 'Lance brings a unique blend of strategic clarity, composure under pressure, and deep understanding of the modern T20 landscape. His alignment with our vision for the Durban's Super Giants makes him the ideal leader to continue shaping the team's future,' Goenka said.
