Firstsource boosts collections capability with Pastdue acquisition

Customer management outsourcer Firstsource has been making good progress of late growing ahead of the wider market (see Firstsource hits the $1bn run-rate) and working to develop its capability mix and AI-driven proposition (see here). Added to this was last week’s announcement that the company has agreed to buy a UK-headquartered debt-collection business Pastdue Credit Solutions for a reported £22m. Pastdue serves a broad range of clients across banking, utilities, telecoms, and public sector.

Dr. Sanjiv Goenka, Chairman of Firstsource, commented, “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…….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 UK collections market remains a fragmented and busy space with rising consumer debt inevitably offering a multi-billion-pound market opportunity.  Firstsource will be looking to develop its own internal collections proposition with a mixture of AI, tech, operational excellence and scale, as it looks to expand its UK market footprint and associate local operations.

Posted by: Marc Hardwick at 09:16

Tags: acquisition   collections