Copper Street One – an entity of Copper Street Capital LLP, a UK based specialist financial services investment firm – have announced the acquisition of a majority interest in MMF (now Lantern).
The approval for the change in control of the business was granted by the Financial Conduct Authority (FCA) on 29 September 2017, and the management of Copper Street Capital and MMF are already working closely together on developing the business plan to take the business forward.
The acquisition marks a significant moment in the company’s history and validates the success we have achieved in building a strong business. Going forward this new partnership will provide the company with capital and resources to build on that success, helping us to grow our business and better serve our customers and clients.
Denise Crossley, CEO of MMF, said:
“The MMF management is delighted to welcome Copper Street Capital to partner with it through its ongoing evolution and with renewed investment and increased financial expertise, we plan to further strengthen our existing senior management teams. As the only debt purchaser to obtain full authorisation whilst working directly under the scrutiny of the Financial Conduct Authority, I feel we are uniquely positioned to establish MMF as the market leader in both the low-value and short-term debt markets.”
Justin Bull, Partner and Chief Operating Officer of Copper Street Capital LLP said:
“We are excited to be partnering with MMF as it embarks on this next phase of its business development. Given the changes taking place in the market we believe MMF will be well-placed, given all the work that has gone into transforming its platform.”