Pepper Group Limited

Pepper Group Limited is a consumer finance company that provides lending, property advisory and asset management in both the residential and commercial sectors.

History

Pepper Group was founded in 2000 and is headquartered in Sydney, Australia with offices in Ireland, Spain, South Korea and the UK. It is also known as Pepper Money or simply Pepper. Pepper initially provided residential home loans in Australia in 2000. Between 2006 and 2010, Pepper was owned by Merrill Lynch, later it was taken over in 2010 by a group of private investors.[1]

In September 2012, the Pepper Group entered the Irish market after acquiring GE Capital Woodchester Home Loans, including around 3,500 Irish mortgage.[2]

In 2013, Pepper expanded into the UK, Spain, and South Korea.[3][4][5]

In July 2015, Pepper listed on the Australian Stock Exchange with a market capitalization of A$470 million, which increased to $600 million in the first day of trading.[6]

Pepper was acquired by KKR Credit Advisors for $657 million in November 2017 and was delisted from the ASX.[7][8]

In 2017 it partnered with Pollenizer to back SmallStash a fintech start-up that aimed to focus on financial education for kids and assisting parents to better educate their children on money and savings.[9]

In January 2020, Pepper Group agreed to sell its Pepper European Servicing division to Link Group for up to €200 million, which includes operations in Ireland, the UK, Spain, Greece, and Cyprus.[10] Also in January 2020, KKR and Pepper were planning a stockmarket float of its Australian business which would value it at close to $1 billion.[11]

Pepper sponsors the Australia-based St Kilda Football Club since 2015,[12] and Western Sydney Wanderers Football Club since 2013.[13] Pepper is the official sponsor of Dublin-based Shamrock Rovers Football Club and an official partner of the Clare Senior Hurling Team.[14]

Awards

In 2019, Pepper won the Best Non-Bank Lender in the annual Australian Lending Awards.[1]

References
  1. "Pepper finances Asia's global ambitions with diversified lending, servicing and advisory (Australia & New Zealand Business Report 2017)". South China Morning Post. 2017-09-22. Retrieved 2021-01-03.
  2. "Oz firm Pepper buy Irish GE mortgages EU,Financial,Ireland,Politics,Property,Technology,World, news for Ireland". www.businessworld.ie. Retrieved 2019-10-09.
  3. Loddington, Amy (2014-02-05). "Oakwood completes rebrand as Pepper UK". UK: Financial Reporter. Retrieved 2021-01-03.
  4. "Pepper finalises Spanish purchase". The Adviser. Australia. 2013-03-05. Retrieved 2021-01-03.
  5. "Aussie financial services group acquires Korea's Evergreen Savings Bank". Asian Banking & Finance. Retrieved 2021-01-03.
  6. Roddan, Michael (2015-07-31). "Pepper surges on ASX debut". Australian Business Review. Retrieved 2021-01-13.
  7. Westbrook, Tom (2017-08-10). "Australia's Pepper Group accepts $518 million KKR takeover offer". Reuters. Retrieved 2020-03-13.
  8. Shapiro, Jonathan (2019-01-31). "Pepper CEO Mario Rehayem says lending void too big for non-banks to fill". The Australian Financial Review. Archived from the original on 2020-03-13. Retrieved 2021-01-14.
  9. Magazine, Anthill (2017-02-21). "Pepper Money partners with Pollenizer to set up incubator". Retrieved 2021-01-13.
  10. "Pepper Ireland included in sale of PES to Link Group". RTE. 2020-01-31. Retrieved 2021-01-14.
  11. Thompson, Sarah; Macdonald, Anthony; Boyd, Tim (2020-01-20). "Pepper IPO first out of the block; non-deal roadshow under way". The Australian Financial Review. Retrieved 2021-01-13.
  12. "St Kilda add Pepper as principal partner - SportsPro Media". www.sportspromedia.com. Retrieved 2020-01-22.
  13. "Pepper Group commits to Wanderers for three more years". Western Sydney Wanderers FC. Retrieved 2019-10-09.
  14. Hancock, Ciarán. "Shamrock Rovers nets €400,000 sponsorship deal". The Irish Times. Retrieved 2021-01-14.
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