Wales

Save Britain Money Group buys Veraco to save Cardiff and Swansea jobs

Image caption Call centre jobs have been saved and more could be created by the Save Britain Money Group

A Swansea company has safeguarded 150 call centre jobs and said it aims to create more jobs later this year.

The Save Britain Money Group (SBMG) has bought Cardiff-based telesales company Veraco.

The move protects 50 jobs in Swansea, 100 in Cardiff and creates opportunity for future expansion.

SBMG, whose business includes home energy and price comparison savings, said it expects to create 200 new jobs in Cardiff by the autumn.

The company, based at Swansea Enterprise Park, was formed in 2005 and has created 600 jobs across the UK over the last six months.

'Immediate need'

It started off in home insulation and energy-saving but is also involved in price comparison savings and in the reclaim of mis-sold Payment Protection Insurance (PPI).

It said buying Veraco would allow it to expand the PPI side of its business by adding experienced telesales staff to its call centre operation in the capital.

Neville Wilshire, chief executive, said: "The rapid growth of our group has created an immediate need for additional high quality staff and equipped telesales centres; our purchase of Veraco fulfils both these needs."

Recent expansion at SBMG has seen the workforce rise from just over 350 in March 2011 to over 1,000 following the acquisition of Veraco.