Mazars advised HPI on the sale of shares to CRIF

Mazars Deal Advisory are delighted to have advised HPI on the sale of 73% of its shares to CRIF, a global company specialising in credit bureau and business information, outsourcing, and processing services.

HPI, a unique company of high standing operating in a competitive and sophisticated market, was founded in 1948 with the aim of establishing and managing the reference Irish register of financed assets. With a particular focus on motor vehicles subject to hire purchase agreements and other forms of lending, HPI represents a unique point of access to records contributed by a pool of participants, including AIB (Allied Irish Bank), BOI (Bank of Ireland), and UB (Ulster Bank), all of whom are also shareholders. Comprehensive, real-time finance checks on cars, trucks, and other types of assets are offered to both prospective buyers and their financiers, through a variety of B2B and B2B2C channels.

CRIF has been operating in the UK and in the Republic of Ireland for many years, supporting a variety of players, including financial institutions, insurance companies, businesses, and other organizations with its innovative decision support systems, analytics, and software solutions. Moreover, thanks to the acquisition of Vision-Net, a leading provider of business information based in Dublin, CRIF provides immediate access to credit reports and business information on every company in Ireland and the UK.

Through this acquisition, CRIF aims to further consolidate its footprint in the region, delivering value-added services and innovative solutions to the market. By combining its global offering and worldwide expertise with the excellence and unique positioning of HPI in the automotive industry, CRIF is committed to supporting customers in meeting their goals with an even wider range of innovative products and services, ranging from risk management to business development and compliance onboarding.

“This deal represents another important step in the consolidation of CRIF’s presence in Ireland and we are confident we will bring significant advantages to local clients. Our vision is built on developing new partnerships to strengthen what we offer to our clients and anticipate market needs. By combining the strength of CRIF’s global know-how and experience with HPI’s distinctive expertise, we will help our clients to seize new opportunities and open up new possibilities for growth and innovation,” said Carlo Gherardi, President, and CEO of CRIF.

“Mazars is delighted to advise HPI on this transaction. HPI has a unique position in motors financed by hire purchase and under CRIF ownership we look forward to seeing the service offering of HPI expand” said John Bowe Partner, Mazars Deal Advisory.

We would to thank the Mazars Deal team, led by John Bowe, for their expertise, professionalism, and invaluable guidance in leading this deal to a successful conclusion" said Paschal Taggart, Chairman HPI.

“I am very happy about this acquisition, because CRIF and HPI share common values and drivers, in particular the strong commitment to customer care, data quality, and uniqueness of the proposition for our customers. Our distinctive value proposition lies in the development of our synergies and in merging respective operating niches: HPI’s unique presence and understanding of local needs, and CRIF’s global expertise in this and other sectors. This makes it possible to take a further step towards what I regard as a very strategic market, following CRIF’s acquisition of Vision-net and the established projects in the country, while also considering the current European context,” commented Sara Costantini, Regional Director of CRIF for the UK & Ireland.