Axactor SE

M&A Activity • Dec 20, 2018

Axactor acquires large unsecured NPL portfolio in Spain

Axactor acquires large unsecured NPL portfolio in Spain

Madrid, December 20th, 2018

Axactor has closed its biggest one-off transaction in 2018, with a large Spanish financial institution. The purchase is an unsecured portfolio with an outstanding balance of approximately 940 mEUR across more than 100.000 claims. The portfolio comes with a significant number of paying cases, increasing the existing revenue from unsecured portfolios by more than 40% in 2019.

"Complementing recent announcements in Germany, Italy, Sweden and Finland this portfolio shows real commitment by Axactor in growth and diversification across both continental Europe and the Nordics. Combining this with existing forward flow commitments, Axactor is well placed for significant growth into 2019 and beyond" says Endre Rangnes, CEO, Axactor Group.

"Axactor Spain is delighted to have secured this large portfolio in the last quarter of 2018. It provides us with momentum into 2019 across the whole business. It will complement our wins in the other product areas, 3PC, Secured and REO" says David Martín and Andrés López, General Directors of Axactor Spain.

Axactor plans to make this acquisition through their jointly owned SPV with Geveran and will finance the transaction using existing cash and credit facilities.

For additional information, please contact:

Johnny Tsolis, CFO, Axactor

Mobile phone: +47 913 35 461

Email: johnny.tsolis@axactor.com

About Axactor

Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden, Finland and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for non-performing loans (NPL) in Europe. This market is estimated to be about 1,500 billion euros across Europe providing significant opportunities for Axactor's future expansion. Axactor has approximately 950 employees.