Pepper Group Limited
Pepper Group Limited (shortened to Pepper, also known as Pepper Money) is a consumer finance company that provides lending, property advisory and asset management in both the residential and commercial sectors. Pepper’s headquarters is located in Sydney, Australia with offices in Ireland, Spain, South Korea and the UK.
History
Pepper Money was established in 2000 and initially provided residential home loans throughout Australia. In 2006, Pepper was merged with Merrill Lynch and in 2010 the company was taken over by a group of private investors. Since then, Pepper Money has expanded into other lending areas including auto and equipment finance, personal loans and point of sale finance.
In September 2012, the Pepper Group entered the Irish market after acquiring GE Capital Woodchester Home Loans, including around 3,500 Irish mortgage accounts and also assuming responsibility for servicing GE Capital’s Irish portfolio of personal, small enterprise and auto loans. Through additional acquisitions in 2013, Pepper expanded to the UK, Spain and South Korea.
In July 2015, Pepper listed on the Australia Stock Exchange with a market capitalization of A$470 million, which increased to $600 million on the first day of trading.
Pepper was acquired by KKR Credit Advisors for $657 million in November 2017 and was delisted from the ASX. In 2018, Pepper became the largest Australian issuer of residential mortgage-backed securities.
In January 2020, Pepper Group sold its European Servicing division to the Link Group for €200 million. They also started planning a stock market float of its Australian business which would value it at close to $1 billion.
Sponsorship
Pepper Group is involved in several funding projects and sponsorships.
It started sponsoring the Western Sydney Wanderers Football Club in 2013 and began sponsoring the Australia-based St Kilda Football Club in 2015.
In 2017, it partnered with Pollenizer to back SmallStash, a fintech startup which focuses on financial education for children as well as assisting parents to better educate their children on money and savings.
Pepper is also the official sponsor of the Dublin-based Shamrock Rovers Football Club and an official partner of the Clare Senior Hurling Team.
| Private | |
| ISIN | 🆔 |
| Industry | Finance |
| Founded 📆 | 2000 |
| Founder 👔 | Mike Culhane |
| Headquarters 🏙️ | , |
Area served 🗺️ | |
Key people | Mike Culhane (Global CEO) |
| Products 📟 | |
| Brands |
|
| Services | Asset Servicing |
| Owner | Kohlberg Kravis Roberts |
| Members | |
Number of employees | 1,434 |
| 🌐 Website | https://www.pepper.com.au |
| 📇 Address | |
| 📞 telephone | |
| Footnotes / references [1] | |
Pepper Group Limited (shortened to Pepper, also known as Pepper Money) is a consumer finance company that provides lending, property advisory and asset management in both the residential and commercial sectors. Pepper's headquarters is in Sydney, Australia with further offices in Ireland, Spain, South Korea and the UK. As of 2019, it won the Best Non-Bank Lender in the annual Australian Lending Awards.[2]
History
Pepper initially provided residential home loans in Australia in 2000. Between 2006 and 2010, Pepper was owned by Merrill Lynch.[3] Since being taken over in 2010 by a group of private investors, Pepper Money has expanded into other lending areas including auto and equipment finance, personal loans and point of sale finance.
In September 2012, the Pepper Group entered the Irish market after acquiring GE Capital Woodchester Home Loans, including around 3,500 Irish mortgage accounts and also assuming responsibility for servicing GE Capital’s Irish portfolio of personal, small enterprise and auto loans.[4] Through additional acquisitions in 2013, Pepper expanded into the UK, Spain, and South Korea.[5][6][7]
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.[8]
Pepper was acquired by KKR Credit Advisors for $657 million in November 2017 and was delisted from the ASX.[9][10] In December 2017, it released research claiming that a large group of Australians is being under-serviced by financial institutions because 54 percent of those turned down for a loan were unaware that there was another option available.[11] Pepper was the largest Australian issuer of residential mortgage-backed securities in 2018.[12][13]
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.[14] 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.[15]
Sponsorship
Pepper Group is involved in several sponsorship. 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.[16] It is a sponsor of the Australia-based St Kilda Football Club since 2015.[17][18] From 2013, it started sponsoring the Western Sydney Wanderers Football Club.[19] Pepper is the official sponsor of Dublin-based Shamrock Rovers Football Club and an official partner of the Clare Senior Hurling Team.[20]
References
- ↑ "Bloomberg - Pepper Group Ltd". Bloomberg L.P. Retrieved 2020-03-13. Unknown parameter
|url-status=ignored (help) - ↑ Broker, Australian. "2019 Australian Mortgage Award winners revealed". www.brokernews.com.au. Retrieved 2020-01-22.
- ↑ "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 2020-03-13.
- ↑ "Oz firm Pepper buy Irish GE mortgages EU,Financial,Ireland,Politics,Property,Technology,World, news for Ireland". www.businessworld.ie. Retrieved 2019-10-09.
- ↑ Loddington, Amy (2014-02-05). "Oakwood completes rebrand as Pepper UK". UK: Financial Reporter. Retrieved 2020-03-13.
- ↑ "Pepper finalises Spanish purchase". The Adviser. Australia. 2013-03-05. Retrieved 2020-03-13.
- ↑ "Aussie financial services group acquires Korea's Evergreen Savings Bank". Asian Banking & Finance. Retrieved 2019-10-09.
- ↑ Roddan, Michael (2015-07-31). "Pepper surges on ASX debut". Australian Business Review. Retrieved 2020-03-13.
- ↑ Westbrook, Tom (2017-08-10). "Australia's Pepper Group accepts $518 million KKR takeover offer". Reuters. Retrieved 2020-03-13.
- ↑ "Pepper Group enters into Scheme Agreement with KKR". Unknown parameter
|url-status=ignored (help) - ↑ "Growing disconnect between ordinary Australians and financial institutions - Pepper Money survey". Finextra Research. 2017-07-12. Retrieved 2020-06-15.
- ↑ 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 2020-03-13.
- ↑ "Pepper breaks new ground with triple-currency, green-tranched RMBS | KangaNews". www.kanganews.com. Retrieved 2020-06-15.
- ↑ "Pepper Ireland included in sale of PES to Link Group". RTE. 2020-01-31. Retrieved 2020-03-13.
- ↑ 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 2020-03-13.
- ↑ Magazine, Anthill (2017-02-21). "Pepper Money partners with Pollenizer to set up incubator". Retrieved 2020-06-15.
- ↑ "St Kilda add Pepper as principal partner - SportsPro Media". www.sportspromedia.com. Retrieved 2020-01-22.
- ↑ "Pepper signing spices up pre-season". saints.com.au. Retrieved 2019-10-09.
- ↑ "Pepper Group commits to Wanderers for three more years". Western Sydney Wanderers FC. Retrieved 2019-10-09.
- ↑ Hancock, Ciarán. "Shamrock Rovers nets €400,000 sponsorship deal". The Irish Times. Retrieved 2019-10-09.
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