Financial services outsourcing and software vendor Target Group has acquired the operating business of Commercial First, a UK based provider of commercial and residential mortgage servicing, due diligence and property valuations.

Commercial First offers clients a range of services in the real estate lending market from loan administration through to the full arrears, litigation and repossession cycle. It also offers debt recovery, professional negligence claims, property management, lettings, cash bond administration and investor reporting services.

Target co-group CEO Ian Larkin said: “John Barbour and his team have built a special servicing capability in Commercial First that is recognised within the industry as being second to none. 

“Combining this capability with our primary servicing will enable Target to deliver to our clients a market-leading end-to-end servicing proposition for residential and commercial lending.”

Target said that the latest acquisition forms part of its broader expansion plans. The move follows Target’s acquisition by Indian IT provider Tech Mahindra last year.