Global law firm Clifford Chance has advised Adam Colley, Andrew Scott, Stephen Longley and Derrick Vickers of PricewaterhouseCoopers in their capacities as joint and several voluntary administrators on the sale of PF Management Group Pty Ltd and its subsidiaries (collectively, the Panthera Group) to Australian family-owned credit and legal agency Francom Group. The assets and employees of the Panthera Group, which is one of Australia’s largest private debt purchasing and collection groups, will continue to operate under the Francom Credit brand. The transaction makes Francom Group the third largest debt purchasing and collection agency in Australia.
Lead partner Mark Gillgren said, “This deal creates a major player in the debt collection sector with a strong moral and ethical focus, marking the successful completion of the trade-on strategy implemented by the administrators. The success of this transaction highlights our team’s expertise in navigating complex restructuring and turn-around transactions and mergers and acquisitions, and our focus on delivering optimal outcomes for clients, creditors, employees and the market. We were pleased to work closely with the Administrators and their team on this transaction”.
Mark was supported by partners David Clee, Nikki Smythe and Donna Wacker, counsel Jenny Han and James Hewer, senior associates Adriano Poncini and Alexandra Zhu, associate Jacinta Wild, and law graduate Campbell Norton.
This transaction continues Clifford Chance’s long-standing work in the Australian market, including having recently advised on restructuring matters including Accolade Wines, Quintis, Clough Group and Hertz International as well as having recently advised onĀ Oaktree Capital’s AU$240 million investment and strategic growth partnership with AZ NGA, and theĀ sale of The APP Group by Five V Capital and other shareholders to Bureau Veritas.
