HML, the UK and Ireland’s leading third-party mortgage administration company that has a base in Derry, has been sold by Skipton Building Society to Computershare.
Skipton will receive an initial consideration of £47.5 million, plus an adjustment for surplus working capital, together with potential additional payments based on revenue growth in 2015 and 2016.
Completion is conditional upon regulatory approval.
Skipton Building Society decided to sell HML in order to allow it to take advantage of growing market opportunities with Computershare having the global scale and investment strength to further develop and grow HML and build on its success.
The mortgage servicer has offices in Derry’s Ulster Science and Technology Park.
Andrew Jones, chief executive officer of HML, said: “I am delighted that HML and Computershare will be working together, and Computershare becoming our parent company is excellent news for the business and those who work at HML.”