Baycorp was founded in 1956 in Lower Hutt, New Zealand. In 1973 the company expanded into the Bay of Plenty region, hence the origin of the name 'Bay'. The successful expansion of the company led to a listing on the New Zealand Stock Exchange in 1986. In 2001 Baycorp Holdings merged with Data Advantage to form Baycorp Advantage with dual listings on the Australian and New Zealand Stock Exchanges.
On 1 July 2006, Trans Tasman Collections (TTC) purchased Baycorp Advantage's debt collection business in Australia and New Zealand. TTC is a consortium consisting of Allco Equity Partners and DB Capital Partners. The new ownership delivers a committed and experienced board, strong financial backing and a clear future direction for the trans Tasman client base of Baycorp's debt collection business.
In July 2006, TTC also purchased Portfolio Management Group (PMG), a Sydney based debt collection business established in 1997, which focuses on the consumer debt purchase market.
Both the Baycorp collection business and PMG trade under the 'Baycorp' brand.
While Baycorp is no longer part of the Baycorp Advantage group, the company maintains strong commercial links with the Credit Bureau, allowing Baycorp to manage its clients' credit reporting and default listing requirements.