Glasgow-based BCW is selling the international outsourcing division of its credit-management business to a management buy-out team backed by a venture capital group, Sovereign Capital.

BCW is a U.K.-based credit management group, and has grown on the back of rising consumer debts and the trend of companies outsourcing debt collection to specialist firms.

The spinout company, called Avance Group, will also be based in Glasgow.

The company has plans to create 150 Scottish jobs over the next two years, as well as 100 at its Stratford-upon-Avon center.