Debt buyer Encore Capital Group Inc. announced Tuesday that it closed its acquisition of a controlling stake in Grove Capital Management, a management company that purchases credit portfolios and has a focus on United Kingdom insolvencies and Spanish assets. The acquisition received regulatory approval from the Financial Conduct Authority in the UK.

The purchase further builds San Diego-based Encore’s presence in the UK and continues an international expansion shift among large U.S. debt buyers. Encore in February announced a $481 million deal with UK-based debt buyer Marlin Financial Services and a $192 million deal with UK- and Ireland-based Cabot Credit Management.

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