International Personal Finance (IPF) today confirms that the acquisition by New York-based BasePoint Capital has now completed.
IPF Chief Executive Officer Gerard Ryan said he was delighted that the transaction is now effective and IPF is part of the BasePoint group: “What is particularly exciting about this new chapter for IPF is the opportunity it creates for our business and the possibilities to deliver our purpose to build a better world through financial inclusion.
As set out in the announcement, BasePoint brings deep experience in our sector, and has shown over the last several years a track record of accelerating growth. Basepoint intends to work with us to accelerate our own growth plans and is a firm believer in our purpose of building financial inclusion.
We believe this creates a strong foundation to build on our existing strategy and continue bringing benefits to our customers, our people and the communities we serve.”
BasePoint CEO Eric Schneider said: “We are delighted to welcome IPF into the BasePoint group. We are excited about the opportunity ahead and the role IPF can play in expanding access to responsible financial services.
IPF is a high-quality business with a strong management team, deep customer relationships and a clear sense of purpose. We have great respect for what has been built and are excited about the opportunity to support its continued growth.
Our intention is to work in partnership with the IPF team, supporting the business with our experience, resources and long-term perspective. We look forward to building the next chapter together.”
The transaction has completed following shareholder approval, Court sanction and regulatory clearances. IPF is now privately owned by BasePoint but remains a UK-incorporated business headquartered in Leeds. This is a change in ownership, not in how the business operates. There is no impact on customers, products or services.
What is IPF: IPF is a global financial services provider striving to deliver on our purpose to build a better world through financial inclusion. IPF plays a vital role in the lives of millions of customers who are often unable to access credit from banks and traditional lenders, by providing access to unsecured, affordable credit and great-value insurance products, in a responsible way. https://www.ipfin.co.uk/
What is BasePoint: BasePoint is an established US-based provider of asset-based financing and liquidity solutions to specialty finance companies, including commercial, fintech and consumer originators, with deep experience in consumer specialty finance: https://basepointgroup.com/
Media enquiries:
Jonathan Woodier (Jonathan.Woodier@ipfin.co.uk)
