Sale to Oxygen gives Rockford a breath of fresh air

Recovery audit specialist Rockford Associates has been sold to Oxygen Finance in a deal advised by KBS Corporate.

Founded in 2002, Rockford helps public and private sector organisations find and recover money they have paid in error or left unclaimed.

The company has helped clients recover more than €120million, building lasting relationships with more than 60 organisations across local government, healthcare, housing, education and the private sector.

In a deal advised by Jay Singh, KBS Corporate Finance Director, Rockford was sold to Oxygen Finance, a subsidiary of TruFin plc.

Oxygen specialises in payments control, supporting supplier cashflow while generating savings for public bodies. The acquisition of Rockford unites two businesses with a shared ambition to help organisations get more value from their spending.

“It’s the start of a new chapter for our team and the clients whose trust has helped us build Rockford,” said a statement from Rockford announcing the partnership.

“Oxygen shares our focus on helping clients make better use of their money. Becoming part of the Oxygen group, part of TruFin plc, gives us more expertise to draw on when helping you understand your spending, recover funds and improve your financial processes.

“Thank you to our clients, colleagues and partners for everything you’ve contributed to Rockford. We’re proud of what we’ve achieved together and excited about what comes next.”

A statement from Oxygen read: “Rockford becoming part of the Oxygen group is a natural next step. We already understand the challenges our customers face when managing procurement and payments. Rockford brings a wealth of specialist experience in finding and recovering money that might otherwise go unnoticed.”

Vicki Sloane, Chief Executive of Oxygen Finance, commented: “Rockford’s experience and established client relationships complement our own and create opportunities to grow our overpayment audit business together. We look forward to working with the team to help more clients recover funds and achieve greater value from their spending.”

KBS Corporate’s Jay Singh thanked colleagues Richard Stocks (Senior Research Analyst), Alex Foster (Senior Document Writer) and Matthew Chadaway (Corporate Transaction Analyst) for their important roles in the transaction process, along with K3 Law for providing the Rockford Associates shareholders with legal advice.