Hayfin Capital Management has agreed a “consensual transfer of control”, or debt for equity swap, with Rutland Yui Mok/PA:Press Association ArchiveThe lender to Buy as You View, one of Britain’s largest hire-purchase companies, has taken control of the retailer, which is battling to improve its performance in a challenging market. Hayfin Capital Management has agreed a “consensual transfer of control”, or debt for equity swap, with Rutland, the private equity group that specialises in “turnarounds” and has owned Buy as You View (BAYV) since 2012. Rutland bought BAYV for £33.1 million in an all-equity transaction and two years later carried out a refinancing with Hayfin Capital. The Bridgend-based BAYV sells electrical and household goods to customers who initially hire the product, making weekly repayments with interest until they have bought it outright. The hire-purchase sector has been under pressure for some time and is facing…

Source: The Times November 11, 2016 00:04 UTC