11 June 2012: Bluestone expands into Ireland with launch of
Bluestone Asset Management
Bluestone has broadened its European activities by opening an office in the Republic of Ireland. The new office in Dublin is a base for around 25 staff who are initially focussing on the management of portfolios of consumer loans. This team is supported by additional resources in Bluestone’s Sheffield operations in the UK. The Dublin office is Bluestone’s fourth European office, and brings the total headcount in the region to approx. 200.
22 Sept 2011: Bluestone announces the acquisition of Close Credit Management
Bluestone Group, a provider of capital and asset management services, announced today the acquisition of UK portfolio management business Close Credit Management Limited.
31 Aug 2011: Bluestone Completes Queenstown Residential Development Financing
Bluestone has further expanded its New Zealand business with the provision of a $6.3m mezzanine finance and working capital facility to support the acquisition of 23 residential lots at Bendemeer in Queenstown from Rakaia River Holdings (In Receivership).
29 Nov 2010: Bluestone announces investment by Macquarie
Bluestone Group, a provider of capital and asset management services today announced a new investment by Australia’s Macquarie Bank. Under the terms of the transaction, Macquarie will acquire approximately 17.5% of Bluestone via the subscription of newly issued Ordinary shares. The proceeds of the capital raising will be used to support Bluestone’s expansion in Europe, and build on its success in Australia and New Zealand.
7 Jul 2010: Bluestone announces backing for Irongate Property Group
Bluestone Group (“Bluestone”) has agreed to provide Irongate Properties Limited (‘Irongate’) with approximately NZ$45m in new funds in accordance with the terms of a new financing facility. The facility will enable Irongate to repay a retail debt series that is maturing in mid July. Bluestone has also agreed indicative terms for additional potential funding to assist Irongate in repositioning its property investment business and enhancing various properties within its portfolio.
21 Oct 2009: Office of Fair Trading grants BPM a CCA license
The Office of Fair Trading ("OFT") granted Bluestone Portfolio Management (UK) Limited (BPM) a Consumer Credit ("CCA") License on 19th October 2009.
6 Oct 2009: Bluestone lifts earnings as international expansion gathers pace
Bluestone, a leading provider of capital management and loan administration services, today reported a net profit after tax of $6.1m for the year ended June 30, 2009, a 56% increase over the prior year (2008: $3.9m). Earnings before interest and tax increased 18% to $15.5m, although higher debt service costs resulted in a lower increase in pre-tax profits of 7%, to $9.1m.
14 Mar 2009: Signs of life appearing in the distressed debt industry
Whilst many financial markets remain moribund, signs of life are appearing in the distressed debt sector, with market participants beginning to see a closing of bid/offer spreads and a growing recognition by vendors that bad debt disposal will be an important ingredient in an eventual recovery.
17 Dec 2008: Bluestone announces record profit, expansion to Europe
Bluestone has reported a net profit after tax of $3.9m for the year ended June 30, 2008, an increase from $342,000 in the prior year. Pre-tax profit increased 54% to $10.25m.