Rowbow Investments 202 (Pty) Limited / Daly Credit Corporation

Company description

Rowbow is a holding company that holds 100% of the equity in Daly Credit Corporation (“Daly”). Daly is a contact centre with a seat capacity for greater than 500 individuals that specialises in the collection of various forms of debt on an agency basis.

The co-owners and principals of Daly are also partners in a law practice called RL Daly Inc. (“RLD”). RLD approaches various credit providers with a view to being appointed to the attorney panel to act as agent for the credit providers and to collect “charged off” or “handed over” debt. Where credit providers have had no success in collecting the “charged off” debt, they hand this debt over to an attorney to collect it on their behalf.

The executives of Daly Credit Corporation are Bill Daly who is the Executive Chairman, and Andy McNabb who fulfills the role of Managing Director.

Investment Logic

Daly’s provides Conexus the opportunity of investing in a defensive business but one that has growth opportunities. The unusual combination of a legal practice and call centre will allow this model to be adapted and expanded in the ever increasing credit space. The fast changing demographic economics of South Africa could create many opportunities for Daly’s.
 

 
   Bill Daly                                                  Andy McNabb
   Executive Chairman                            Managing Director

For more information on Daly, please visit their website.