A Kent-based financial group specialising in consumer debt purchase has won a top industry award.

Cabot Financial Group, which has its head office in Kings Hill, West Malling, was named Debt Purchaser of the Year at the second annual Debt Collection Agency Awards in recognition of its achievements in the industry.

The awards were held in association with industry magazine Credit Today. Cabot Financial was shortlisted in the same category last year.

The company, founded ten years ago, buys debt from lending institutions, keen to offload their debt book to specialist companies like Cabot.

Ken Maynard, group chief executive, said: “This award is an important acknowledgment of our achievements over the past 12 months. Since initiating the first debt sale transaction nearly ten years ago, we have continued to cement our position as a leading purchaser in the UK and Europe. The award is testament to the dedication of all our employees."

In February, Cabot Financial was listed for the second year running in the Sunday Times Buyout 100 league table as one of the UK’s fastest-growing private equity-backed companies.