Encore Capital Group Inc., the San Diego collector of charged-off credit card debt, said its United Kingdom subsidiary, Cabot Credit Management, acquired Marlin Financial Group, a U.K. debt collection business, for 295 million pounds or $484 million.

The acquisition of Marlin expands Encore’s presence in high growth British and Irish markets, the largest mature credit markets in the world behind the United States, the company said.

The transaction is expected to be accretive to Encore’s 2014 earnings per share.

Marlin brings to Cabot more than $574 million in estimated remaining collections as well as a robust legal collections operation, the company said.

Marlin is effective at collection on nonperforming debt, in which consumers have the ability to pay but are unwilling to do so.

As part of the agreement Ken Stannard, Marlin’s chief executive officer, was appointed as CEO of Cabot Credit Management. Neil Clyne, Cabot’s current CEO, is stepping down to pursue other interests, the company said.