Just months after completing its acquisition of contact center operator Ascensos, Firstsource Solutions Limited (NSE: FSL, BSE:532809), an RP-Sanjiv Goenka Group company, has signed an agreement to acquire Pastdue Credit Solutions, a UK-based debt-collection business. The acquisition is pending approval from the UK Financial Conduct Authority (FCA).
Pastdue Credit Solutions provides debt collection services to companies in the UK, including banks, utility firms, telecoms companies, and government entities.
Dr. Sanjiv Goenka, chairman of RPSG Group and Firstsource, stated that the acquisition is expected to enhance Firstsource’s capabilities in first- and third-party collections, particularly within the utilities, financial services, and public sectors. He also noted the acquisition aligns with Firstsource’s strategy to expand its collections business in the UK, focusing on sectoral depth and local delivery.
The acquisition occurs as the UK collections market is experiencing growth. Factors contributing to this include rising consumer debt and an increased role for private agencies in public sector collections, representing a market opportunity exceeding £1.9 billion GBP. Firstsource intends to leverage its digital and AI-driven capabilities with local expertise to expand its presence in this market.
Phil Grant, chairman of Pastdue Credit Solutions, commented on the growth potential and expanded services the partnership with Firstsource could facilitate.
Firstsource has maintained investments in the UK and has been recognized for contributing to UK employment. The company was ranked third in the India Meets Britain Tracker 2025 report by Grant Thornton.
The completion of the acquisition is contingent upon FCA approval.
Firstsource has maintained investments in the UK. Photo credit: Firstsource/Facebook.
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