Brightside Group


Brightside Group joined Aim on 9 January 2007. At that time it was valued at £14m - based on an introduction price of 69p a share. It was hoping to exploit the growth of the personal insolvency market but the timing of the float coincided with the IVA market, in particular, becoming tougher as creditors were less willing to accept IVAs that offered them little return. The insolvency operations were sold to, now Relax Group. That left Brightside with debt management, mortgage and loan broking and lead generation. In June 2008 Brightside announced the acquisition of Group Direct, and a related medical reports business Injury QED, in return for 250m shares. At the same time £10.6m was raised from Norwich Union and Stena Investments at 19p a share. The founders of Brightside had shareholdings in the businesses being acquired and continue to run the enlarged group.

Sector: Financial

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