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Debtmatters is to sell its IVA Book to a consortium of Grant Thornton and Totemic for £6.4m and its residual debt resolution business to Creditflex for £0.8m, in order to focus on loan broking.
Debtmatters has raised £3m in a share placing to fund the expansion of its newly-formed debt management division.
Debtmatters is to acquire Loanmakers, the Bolton-based secured loans broker, for an initial £10m.
Debtmatters is planning to raise £3m in a flotation on Aim to fund the expansion of its consumer debt advice business.