Technology provider, Iress, has announced the completion of its UK mortgage sales and originations business to Bain Capital, in a deal worth £85 million.
The sale was announced in March 2024, at the time Iress said it marked a "significant" advancement in Iress' transformation strategy to divest non-core assets and strengthen its balance sheet. The provider said that the net proceeds from the sale will total approximately £75m and it will provide support services for 12 months after the transaction. Marcus Price, CEO, Iress Group, said: "This is the fourth and largest divestment we have successfully executed under our transformation programme. The net proceeds of all divestments have been used to retire debt, with our debt to leverage ...
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