Global law firm Norton Rose Fulbright has advised ASX-listed company Thorn Group Limited on its sale of receivables management company National Credit Management Limited (NCML) to Australian debt collector Credit Corp for $22.6 million.

NCML operates in Australia and New Zealand as a diversified receivables management business with a focus on debt purchasing and agency collection. The sale to Credit Corp includes a purchased debt ledger (PDL) book with a carrying value of more than $20 million, 90 staff and 120 client agency agreements.

Norton Rose Fulbright partner Ben Smits, who led the deal, commented:

“It was pleasing to assist Thorn Group with the sale of a high quality receivables management business and to reach an outcome that was beneficial to all parties concerned.”

Ben  was assisted by associate Vianna Shing and Thorn Group relationship partner Richard Fogl.