Cabot Credit Management confirms reports of London float

One of Britain’s largest debt collectors was confirmed to be toying with the idea of a float this week, as reports emerged that three investment banks had been called in.

Sky News reported that Goldman Sachs, Jefferies and Morgan Stanley had been hired by Cabot Credit Management’s shareholders to oversee a float, which would value the firm at £1bn.

The company is currently majority-owned by Nasdaq-listed Encore Capital Group.