Axactor SE

M&A Activity • Mar 17, 2016

Axactor makes a strategic move in the Norwegian market - acquires the Norwegian debt collection company IKAS

Axactor makes a strategic move in the Norwegian market - acquires the Norwegian debt collection company IKAS

(Oslo, 17 March 2016) Axactor AB (publ) has signed an

agreement to acquire 100% of the shares in the debt

collection company IKAS for NOK 291 million, with 70 %

settlement in cash and 30% in Axactor shares. With this

acquisition Axactor establishes a debt collection and

portfolio acquisition platform in the Norwegian market.

"The acquisition of IKAS is in line with our strategy to

establish credit management operations in growth markets

through acquisitions of well managed companies positioned

for capturing market opportunities. IKAS was our first

choice among players in Norway, and will now be strengthened

with resources, expertise and access to capital, that will

strengthen Axactors position in a growing market", says

Endre Rangnes, CEO of Axactor.

IKAS was founded in 1988 by Kjell Reiersrud and has over the

last five years doubled the turnover to NOK 91 million and

with an operating margin of approximately 30% in 2015. The

company has 70 employees and offices in five Norwegian

cities. Before today's acquisition IKAS has been a privately

owned company.

"At IKAS, we are today very happy and motivated to embark on

the next phase of the company's development. Together with

our new owners, we are looking forward to develop the

company to become a leading player in the Norwegian market

for credit management and debt portfolio acquisitions.

Axactors ownership allows us to accelerate the development

of the company, and with our expert staff, we will be able

to contribute to further growth for Axactor. As general

manager for 18 years and one of several shareholders in

IKAS, I look forward to continue to lead IKAS and to become

a shareholder in Axactor "says Frode Reiersrud, general

manager of IKAS.

In December 2015 Axcator acquired the company ALD Abogados

in Madrid, Spain and has since more than doubled its

turnover and number of employees in the Spanish market.

Axactor has since January 2016 acquired portfolios of non-

performing loans in Spain with total outstanding debt

corresponding to NOK 4.9 billion. Axactor currently has

approximately 200 employees in Spain.

"Axactor continues the efforts to implement the strategic

plan that has previously been communicated to the market,

and we have identified several potential acquisition

candidates and a substantial number of debt portfolios in

strategically designated European countries. With our

experienced management team, support from our shareholders,

efficient cost structure and competitive financing, we are

well positioned to deliver on our strategic ambitions" says

CEO Endre Rangnes.

For further information:

Geir Johansen, CFO & Investor Relations, +4747710451

About Axactor

Axactor is a newly established company in the market for

credit management services. The company has a Nordic base

and an ambitious pan-European growth strategy, which targets

the market for non-performing loans in Europe. This market

is estimated to about 1 500 billion euros, and Axactor's

main focus is debt collection and purchase of NPL

portfolios. As a first step in the pan-European growth

strategy Axactor acquired the company ALD Abogados in

December 2015. ALD Abogados is a leading debt collection

company in Madrid with 120 employees, and has in addition a

call center with 80 employees in Valladolid, Spain.

About IKAS:

IKAS is one of the fastest growing companies in the debt

collection industry in Norway. The company has for several

years been working on innovation and product development,

and currently delivers market leading and modern payment

solutions for selected industries. The company was

established in 1988 and currently has about 70 employees

with offices in five Norwegian cities.