Honeycomb Investment Trust has announced that it has agreed to acquire a portfolio of consumer loans from Caledonian Consumer Finance Limited and Carnegie Consumer Finance Limited for a purchase price of £15m.
Caledonian is separately expected to acquire 700,000 ordinary shares in the Company from Pollen Street Capital Holdings Limited, an affiliate of the Company’s Investment Manager, Pollen Street Capital Limited.
Caledonian says it is a “niche” provider of Retail Consumer Finance products with a clear aim of servicing the Education & Training, Home Improvement and Holiday Ownership markets, coupled with a willingness to consider other opportunities in the specialist sector of the retail market that may not currently be supported by the main traditional retail lenders. You can access their website here.
HONY : Honeycomb buys loan portfolio