New York-based BasePoint Capital has completed the acquisition of International Personal Finance (IPF), owner of Provident Financial Romania, which is active in the non-bank consumer lending market.

IPF is now privately owned by BasePoint but remains a UK-incorporated business headquartered in Leeds.

There will be no change in how the business operates, no impact on customers, products or services, IPF said.

The transaction has been completed following shareholder approval, Court sanction and regulatory clearances.

“As set out in the announcement, BasePoint brings deep experience in our sector, and has shown over the last several years a track record of accelerating growth. BasePoint intends to work with us to accelerate our own growth plans and is a firm believer in our purpose of building financial inclusion,” IPF Chief Executive Officer Gerard Ryan said.

“Our intention is to work in partnership with the IPF team, supporting the business with our experience, resources and long-term perspective. We look forward to building the next chapter together,” BasePoint CEO Eric Schneider said.

(Photo: the company)

simona@romania-insider.com