Du är här

2016-05-12

Axactor AB: Axactor acquires Geslico to complement its current operating platform in Spain and become a leading player in the Spanish market

Oslo May 12, 2016 - Axactor AB (publ. ) ("Axactor") acquires Geslico
and obtains access to a modern and industry leading IT systems
required for its existing operations enabling time and cost savings.
In addition, Axactor significantly increases its market share within
the Spanish debt collection and debt purchase market. With the
addition of Geslico, Axactor will be positioned as one of the largest
players in the Spanish non-performing-loans market (NPL).

Geslico is a complete supplier of services within debt collection. The
company was founded in 1985 and is now one of Spain's leading debt
collection companies, with 300 employees and offices in Madrid,
Barcelona, Sevilla, Alicante, Valencia, Córdoba, Zaragoza and Bilbao.
The company was originally established and owned by several Spanish
saving banks. Geslico has established long-term customer
relationships with leading financial institutions, international
investment funds, and Spanish utility companies. In 2015, the company
delivered revenues of EUR 13.6 million, EBITDA of EUR minus 4.6
million and adjusted EBITDA of EUR 0.9 million.

Geslico has since 2014 been owned by an international investment fund
and has been through a thorough restructuring process, and has
recently launched a unique, modern and scalable collection
platform/infrastructure that ensures the efficient debt collection of
third-party claims and debt portfolios.

Axactor planned to purchase and implement a new full scale IT system
covering the total collection value chain. This acquisition enables
Axactor to roll out Geslico's IT platform in Axactor's existing
Spanish business and save time and costs related to the
implementation. Geslico will also enable access to further portfolio
acquisitions in Spain through Geslico's established customer
relationships. With the size and market position of Axactor following
the transaction, Axactor will be uniquely positioned in the Spanish
market.

- Through this acquisition we get access to a large client base with
long term relations, as well as well-trained people and a modern IT
platform for collection. Additionally Axactor gets access to one of
the largest databases of NPL information/ historic collection data in
Spain that will enable us to be even more efficient and improve our
pricing intelligence in respect of future debt portfolios
acquisitions. Axactor will strengthen its position as the natural
partner for financial institutions in Spain, says Endre Rangnes, CEO
of Axactor Group.

For further information:

Endre Rangnes, CEO, +4748221111

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 90
employees in Valladolid, Spain.

-----------------------------------------------------------
http://news.cision.com/axactor-ab/r/axactor-acquires-geslico-to-compleme...
http://mb.cision.com/Main/852/2007997/515027.pdf

Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.