Compliance solutions provider Product Partnerships Limited (PPL), has completed a management buyout backed by a £10m funding package from Arete Capital and TDC’s Impact Fund.
This investment will enable the company to expand and enhance its specialist compliance services offering and proprietary technology platform.
Leeds-based PPL provides outsourced compliance services to retailers offering consumer credit products covering both directly authorised firms and appointed representatives under Financial Conduct Authority regulations.
The company’s clients include Google, Aston Martin, JD Sports and Peloton, and it oversees more than £260m in credit transactions across its network.
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“The investment provides us with the financial firepower to invest in compliance resources, accelerate organic growth, explore strategic M&A opportunities, and continue our expansion into high-potential sectors such as green energy,” said Phillip Garlick, chief executive of PPL.
“We are also committed to further developing our proprietary technology into a fully-fledged SaaS solution, enhancing value for our clients.”
The firm has invested heavily in its staff and their development for its long-term benefit.
Arete has also helped PPL with appointments, adding ex-JD Sports executive Peter Cowgill as chair, as well as a new chief compliance officer and CFO.
Simon Lord, partner at Arete, added: “PPL is a dynamic, growing business with significant untapped potential. The demand for compliance-based solutions in the retail sector is stronger than ever, and PPL is perfectly positioned to capitalise on these opportunities.
“We are excited to support Phillip and his team on this transformational journey.”