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Axactor SE — M&A Activity 2018
Dec 11, 2018
3549_rns_2018-12-11_872c7e0d-7634-4ef4-8efd-0104335d4fe6.pdf
M&A Activity
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Axactor Group acquires another large portfolio of consumer claims in Italy
Axactor Italy, has acquired another portfolio of unsecured consumer claims from a large financial institution in Italy. The portfolio has an outstanding balance of approximately 145 mEUR, across 17.000 cases. The portfolio includes a segment containing cases which already have an existing payment arrangement, which means there is an existing cashflow stream being acquired as part of this transaction.
Oddgeir Hansen, COO Axactor Group & Interim Country Manager Axactor Italy, commented "this acquisition is an important addition to the Italian business. Including this NPL contract with other recent acquisitions, we will generate strong growth into 2019, as well as having an immediate impact on revenues due to the existing paying book".
The investments will be financed through Axactor existing cash and credit facilities.
For additional information, please contact: Johnny Tsolis, CFO, Axactor Mobile phone: +47 913 35 461 Email: [email protected]
About Axactor
Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Finland, Norway, Sweden 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.