JC Flowers-backed Jefferson completed the acquisition of Canaccede Financial Group.

JC Flowers-backed Jefferson Capital Systems, a purchaser and servicer of consumer charged-off and bankruptcy receivables in the US and UK, completed the acquisition of Canaccede Financial Group, the largest buyer of charged-off consumer receivables and insolvencies in Canada, from Varde Partners, an alternative investment adviser. Financial terms were not disclosed. "The acquisition of Canaccede will further strengthen Jefferson Capital’s track record of consistent growth and profitability, founded on industry leading advanced analytics, modeling, and multi-channel collections capabilities. Canaccede’s strength in Canada is unmatched, and their proven history of strong performance and desire to innovate made them an obvious candidate for collaboration. The two companies already share common products and services, a similar market approach and a mission to be the best option for creditor grantors to maximize the value of their consumer receivables,” David Burton, Jefferson Capital Founder and CEO.