Firstsource to Acquire UK-Based Pastdue Credit Solutions

21 Jul 2025 CW Team

Firstsource Solutions, a global provider of domain-led Business Process Services and part of the RP-Sanjiv Goenka Group, has announced the signing of an agreement to acquire Pastdue Credit Solutions, a leading UK-based debt collection agency. The acquisition is subject to approval by the UK’s Financial Conduct Authority (FCA).

Pastdue Credit Solutions serves a wide range of clients across the UK, including banks, utility providers, telecom companies, and government bodies. The deal enhances Firstsource’s capabilities in first- and third-party collections, particularly within the utilities, financial services, and public sectors.

Dr Sanjiv Goenka, Chairman of the RP-Sanjiv Goenka Group and Firstsource, said, “This acquisition strengthens our collections platform and reaffirms our long-standing commitment to the UK. With rising demand for responsible, tech-enabled solutions, Pastdue Credit Solutions’ expertise will help us scale our offerings while continuing to invest in local talent and infrastructure.”

The acquisition aligns with Firstsource’s strategy to build a differentiated, sector-focused collections business with strong local delivery. It comes at a critical time for the UK market, which is facing rising consumer debt and growing private sector involvement in public debt recovery—representing a market opportunity estimated at over £1.9 billion.

Phil Grant, Chairman of Pastdue Credit Solutions, said, “We are proud to join the Firstsource family. This partnership opens new opportunities for growth, innovation, and value creation for our clients and teams.”

Firstsource was recently recognised as one of the top Indian employers in the UK, ranking third in Grant Thornton’s India Meets Britain Tracker 2025.

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