London-Based Private Equity Firm Pollen Street Capital acquires Irish Software Provider Vision Blue Solutions

  • Pollen Street Capital, a leading specialist Private Equity firm in Financial Services based in London, has acquired Irish software company Vision Blue Solutions
  • Vision Blue Solutions is the firms second acquisition in Ireland - Pollen Street Capital acquired Capitalflow, a specialist business finance provider led by CEO Ronan Horgan in May 2016
  • Pollen Street Capital has already invested €35 million over 18 months into Capitalflow to allow it to support Irish businesses
  • Vision Blue Solutions is a customer-focused provider of compliant and efficient software solutions for the Credit and Debt Recovery sectors in Ireland, the UK and the Cayman Islands.

Pollen Street Capital, a leading private equity firm in the financial services sector headquartered in London, has acquired Irish-owned Vision Blue Solutions, it was announced today.

Pollen Street Capital, formerly the private equity business of Royal Bank of Scotland, focusses on investing in businesses in the financial services sector and has invested over £1.2bn over 10 years in a range of businesses across all stages of development.

The firm seeks to invest in high quality businesses operating in specialist markets and works with entrepreneurial and high calibre experienced management teams.

Established in Ireland in 2002 and employing 50 people here, Vision Blue Solutions provides IT software solutions to the finance sector. This includes well known accountancy firms such as Grant Thornton, Deloitte, PWC and RSM, who process large corporate liquidations.

Vision Blue Solutions also works with many high volume personal insolvency firms such as Creditfix, Aperture, StepChange VA and Hanover who will process thousands of cases through their case management system each month.

Vision Blue Solutions are the market leading insolvency case management system providers in Ireland for both corporate and personal case types. Each month, on average, they process 4,000 applications. They are also the leading personal insolvency software providers in the UK, where they manage over 70% (over 140,000 cases) of active personal insolvency cases.

Today’s announcement will allow the company to accelerate growth in existing markets and look to expand to new markets.

Commenting, Colin Brown, CEO, Vision Blue Solutions said:

“With over 150 customers in Ireland, the Cayman Islands and the UK using our software, we are expanding significantly and rapidly in the Irish and UK markets. We have ambitious plans to extend our service beyond this to Canada, Australia and New Zealand and today’s announcement is part of our growth strategy. Pollen Street Capital is a perfect fit. We have always looked to supply innovative and efficient solutions to our clients and working alongside the Pollen Street Capital team, their existing customers and developing new business lines will facilitate our further growth over the period ahead.”

Pollen Street Capital has a track record in building specialist finance businesses, having established Shawbrook Bank in the UK in 2012.

Commenting on the acquisition, James Scott, Partner in Pollen Street Capital, said:

“The acquisition of Capitalflow in 2016 and now Vision Blue demonstrates our confidence in these businesses and the opportunities in the Irish market. We are keen to develop and support top management teams with a view to growing their business and creating real value for their customers. With a growing economy, Ireland is a key growth market for us and we look forward to working with our partners to provide a full range of finance solutions to businesses across Ireland, the UK and beyond.”

Having acquired Capitalflow in 2016, Pollen Street Capital has injected €35 million of equity and this has allowed Capitalflow to secure senior debt facilities with a number of leading international banks which in turn has accelerated its growth in Ireland across a range of asset classes.

According to Ronan Horgan, CEO of Capitalflow, the partnership with Pollen Street Capital has supported the significant growth of the company which has funded over 800 Irish businesses since it began trading in April 2016.

“This most recent acquisition by Pollen Street not only demonstrates their intention to grow the firm’s presence in Ireland but also to support management teams that have a desire to provide real value to Irish firms with advanced financial solutions.

“Irish firms remain challenged in terms of sourcing finance options and funding for business growth. With the support of Pollen Street Capital, we are providing funding to businesses across all sectors in the Irish market and we look forward to collaborating with Colin and his team in Vision Blue Solutions in the future.”