Mon, 21/07/2014 - 06:03
Nordic Capital Fund VIII has signed an agreement to acquire the majority of Lindorff, a European debt collection company headquartered in Oslo, Norway, from Investor and Altor.
Investor and Altor will retain a minority holding in Lindorff.
The total EV is EUR2.1bn plus EUR200m of a performance based vendor note.
“Nordic Capital has followed the development of Lindorff for many years and is impressed with the successful transformation and positioning of the company. In the coming years, Nordic Capital looks forward to supporting further growth and expansion of Lindorff, and to contributing through Nordic Capital’s extensive experience and network in the financial services industry,” says Kristoffer Melinder, managing partner at NC Advisory AB, advisor to the Nordic Capital Funds.
“Lindorff benefits from a strong position in the mature Nordic markets where we have developed a comprehensive strategy and an integrated approach to debt collection. We now use this model as a base for our growth in continental Europe to help banks deal with their non-performing loans. We are experiencing very strong growth, and with our new owner, who has a strong track record in the financial industry, we get access to in-depth knowledge, network and additional capital to pursue our growth strategy,” says Endre Rangnes, CEO of Lindorff Group.
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