Resolution revolution: A Q&A with Bristow & Sutor

Bristow & Sutor’s Chief Executive Officer Anthony O’Keeffe and Chief Operating Officer Susan Ring tell Real Deals magazine how a focus on empathy, technology and performance is the key to redefining leadership in ethical debt resolution.

Sovereign Capital Partners invested in Bristow & Sutor back in 2017. What does Bristow & Sutor do?

Anthony O’Keeffe: We are a technology-enabled debt resolution partner to the public and private sectors.

We are changing the face of the industry by achieving market-leading performance for our clients whilst prioritising customer welfare in all that we do, adopting a fair, ethical and respectful approach.

What has been your growth journey so far?

Anthony: Sovereign’s ownership has been invaluable in supporting our development from a trusted yet localised family business into an industry leader.

We have built our management team, adding high-calibre people to high-level and C-suite positions. This has enabled material market share capture and extension of our footprint into high-profile government bodies, including for Transport for London (TfL), National Highways and the Home Office, where we have quickly become the leading partner to all three organisations.

We have also acquired two businesses serving major private sector clients with personal and commercial customers. This has broadened our offering across the lifecycle of the UK’s annual £30bn of serviced debt.

Since 2022, we have grown revenues and EBITDA by a CAGR of 20% and 26% respectively.

What is the key to a successful acquisition?

Anthony: We are highly selective in appraising targets. Our two acquisitions have expanded our current addressable market to £1bn of potential annual revenues.

We have identified over 60 potential targets in the UK and Europe, in both existing and new skillsets as well as in technologies that would further enhance our business. Future acquisitions will need to extend our addressable market or accelerate what we will achieve organically.

Integrating acquisitions is important in order to leverage the group’s full capabilities. We are undergoing a once-in-a-generation technology transformation; creating a single operating platform that optimises resolution of any debt type. The system is already live for several clients and yielding excellent results.

What role has technology played?

Susan Ring: It is increasingly vital in creating a scalable platform for future growth.

In the public sector fees are set in statute, so clients appraise us solely on collection performance, quality of service and, importantly, protecting their brand’s integrity.

Investing in data analytics, behavioural science and propensity-to-pay models has been fundamental in achieving success against these key metrics.

How does ESG impact your business?

Susan: It underpins everything we do – social responsibility is the bedrock of our business. We train our staff to identify vulnerable customers and treat them sensitively and with empathy.

We are FCA- and SRA-regulated and subject to oversight of the Enforcement Conduct Board; an independent government body that ensures adoption of the highest professional standards.

We predominantly employ our own agents, differentiating us from competitors and allowing us to mould high-quality, professional people that are focused on positive outcomes for both clients and customers.

We take environmental responsibility equally seriously and our governance structures ensure reliability and compliance throughout our operations.

What does the future look like?

Anthony: We are only beginning our journey – this industry is full of exciting growth opportunities. We see our clients as partners and enjoy long-standing, multi-decade, growing relationships.

Our management team and infrastructure position us to continue expanding our addressable market into new products and geographies, whether under Sovereign’s continued guidance or should they choose to pass the business to a new owner.

We are speeding towards our vision of being the go-to provider of debt resolution services in Europe; to be the best and most trusted partner for any debt owner, regardless of the asset type, location or customer characteristics.