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Axactor SE — M&A Activity 2018
Mar 12, 2018
3549_rns_2018-03-12_29544fc0-13bf-44ad-a259-a6582255e51c.pdf
M&A Activity
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Axactor enters a forward flow agreement with a leading consumer financing company in Sweden
Axactor has entered into a forward flow contract with a leading consumer financing company in Sweden. The claims will be acquired on a monthly basis, and Axactor estimates the annual outstanding balance to be 7-10 mEUR. This transaction will be a valuable contribution for increasing the regular NPL volumes and to continue growing the Swedish business unit. Fredrik Kessler, Country Manager for Axactor commented:
"This acquisition shows Axactor's ability to continuously find growth opportunities in a competitive market such as Sweden. This forward flow agreement fits our core NPL business very well and the volumes will contribute to the strong and profitable revenue growth in 2018 and later years.
The investments will be financed through Axactor's available cash and our existing 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, Norway, Sweden and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for nonperforming 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 900 employees.