Strengthening offerings in utilities, telco and public sector across the UK
London, UK, July 18, 2025: Firstsource Solutions Limited (NSE: FSL, BSE:532809), a leading global provider of specialist domain-led Business Process Services (BPS) and an RP-Sanjiv Goenka Group company, has announced that it has signed an agreement to acquire Pastdue Credit Solutions, a prominent UK-headquartered debt-collection business serving many of the UK’s market leading companies, including banks, utility firms, telecoms companies, and government bodies. The acquisition is subject to Financial Conduct Authority (FCA) approval.
Dr. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, “We are excited by the opportunity this acquisition could bring. Pastdue Credit Solutions’ deep expertise in first- and third-party collections, particularly across utilities, financial services, and the public sector, strengthens our capabilities in a space that is both critical and growing. Just as importantly, this move underscores our long-standing commitment to UK employment. We continue to believe that investing in local talent and infrastructure is integral to building a long-term sustainable business.
“This acquisition aligns with our long-term strategy to build a differentiated collections business with strong sectoral depth and local delivery capabilities across the UK. We’re confident in the cultural and operational fit, and we look forward to welcoming the Pastdue Credit Solutions team as we scale this platform together—with resilience, relevance, and responsibility.”
The acquisition comes at a pivotal time for the UK collections market. With rising consumer debt, a growing role for private agencies in public sector collections, and over £1.9 billion in market opportunity, the demand for responsible, tech-enabled solutions has never been greater. By combining its digital-first, AI-driven capabilities with local expertise, Firstsource is strongly positioned to scale with purpose - delivering greater value to clients, supporting public priorities, and expanding its footprint in a market poised for long-term growth.
Phil Grant, Chairman of Pastdue Credit Solutions, said, “We are proud to be joining the Firstsource family. This partnership has the potential to enable a new and exciting chapter for our people, our valued clients, and our future. With Firstsource’s global reach, deep domain expertise, and strong culture of innovation, coupled with its long-established credentials in debt collection, this move will pave the way for us to scale our impact, strengthen our services, broaden our offering and unlock new opportunities together.”
Firstsource has demonstrated its continued commitment to investing in the UK and supporting UK employment. The company was recently recognized as one of the top Indian employers in the UK – ranking third in the India Meets Britian Tracker 2025 report by Grant Thornton.
Completion of the acquisition is subject to FCA approval.
About Firstsource
Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL:IN), is a global leader providing transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India, Philippines, Mexico, Romania, Turkey, Trinidad & Tobago, South Africa, and Australia, we ‘make it happen’ for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPOTM - our differentiated approach to reimagining traditional outsourcing - to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients.
(www.firstsource.com)
About Pastdue Credit Solutions
Pastdue Credit Solutions is a leading UK-based debt-collection agency, providing comprehensive debt recovery services to a diverse client base, including major banks, utility providers, telecommunications companies, and government bodies. With a strong reputation for compliance, customer care, and results, Pastdue Credit Solutions is recognized for its robust platform and experienced team.
For further information, please contact:
Firstsource Solutions Limited
Madhavi.Behl@firstsource.com