Major shareholder enters into a margin loan. Nordic Capital remains committed to Intrum Justitia AB (publ)

Nordic Capital

Cidron 1748 S.à r.l. (the “Shareholder”), the company through which Nordic Capital Fund VIII (“Nordic Capital”) holds shares in Intrum Justitia AB (publ) (the “Company” or “Intrum”), and the largest shareholder in the Company, has today entered into a three-year EUR 518 million margin loan (the “Margin Loan”) secured against shares held in Intrum by the Shareholder. The Shareholder will not sell any shares in Intrum in connection with entering into the Margin Loan.

“Nordic Capital sees significant value creation potential for Intrum and wants to remain invested. This way the Fund can return some money to its investors while keeping shares in the Company. Nordic Capital firmly believes in the benefits of the combination of Lindorff and Intrum, and the creation of an industry leading CMS player.” says Kristoffer Melinder, Managing Partner of NC Advisory AB, advisor to the Nordic Capital Funds.

The loan arrangement will adhere to all conditions from the merger agreement between Lindorff and Intrum Justitia AB and the Margin Loan has been provided by reputable third party financial institutions on conditions that are customary for this kind of instrument.

Press contact

Katarina Janerud, Communications Manager,
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 8 440 50 69
e-mail: katarina.janerud@nordiccapital.com

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 11 billion through eight funds. The Nordic Capital Funds are based in Jersey and are advised by six advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com

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EURAZEO succesfully completes the sale of part of its ELIS shares

Eurazeo

Eurazeo, which has accompanied Elis since its initial investment in October 2007, today announces the
sale of a total of 10 million Elis shares by Eurazeo, directly and through its subsidiary Legendre Holding 27
SAS(“LH27”), and together with ECIP Elis Sarl. The disposal, representing 4.56% of
Elis’ share capital and 4.36% of Elis’ voting rights, was achieved at a price of €22.01 per share, for a total consideration of € 220 million, by way of an accelerated book building to institutional investors (the “
Placement”). The sale comprised 8,696, 854 Elis shares (i.e. 3.96% of Elis’ share capital) sold by
LH 27, 1,112,974 Elis shares (i.e. 0.51% of Elis’ share capital) sold by Eurazeo directly and 190,
172 Elis shares (i.e.0.09 of Elis’ share capital) sold by ECIP Elis Sarl.

Following completion of the Placement, LH27 hold s 6.30 % of Elis’ share capital nd 10.24 % of Elis’ voting rights.In economic terms, Eurazeo holds via LH27 an interest equivalent to 5.7% of Elis’ share capital, compared with 9.1 % prior to the Placement. Out of the three members of the Supervisory Board appointed on the proposal of Eurazeo and LH27, one will be stepping down in the coming months.

Marc Frappier, Managing Director of Eurazeo Capital, declared:

“Under the leadership of Xavier Martiré, Elis has been able to develop at an amazing pace with strong expansion outside of France. The Group has successfully accelerated its M&A strategy with recent acquisitions of Lavebras in Brazil,Indusal in Spain and the ongoing merger with Berendsen.

We strongly support the management team in this strategy which we believe will deliver material benefits for the Group and its shareholders in the future.”

 

This transaction generated net proceeds for Eurazeo of around €162 million.
Eurazeo realized a multiple of about 2.3 x its investment.
In accordance with market practices, a 90-day lock-up has been granted by LH 27 in respect of its remaining shareholding in Elis, subject to customary exceptions and waivers. BNP Paribas acted as Bookrunner in connection with the Placement. Rothschild acted as financial advisor to Eurazeo.
***

About Eurazeo

With a diversified portfolio of approximately €6 billion in assets under management, of which €1 billion is from
third parties, Eurazeo is one of the leading listed investment companies in Europe. Its purpose and mission is
to identify, accelerate and enhance the transformation potential of the companies in which it invests. The
Company covers most private equity segments through its five business divisions – Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo is notably a shareholder in AccorHotels, Asmodee, CIFA, CPK, Desigual, Elis, Europcar, Fintrax, Grape Hospitality, Les Petits Chaperons Rouges, Moncler, Neovia, Novacap, Sommet Education, Trader Interactive, and also SMEs such as Péters Surgical and lash Europe International, as well as start -ups such as Farfetch and Vestiaire Collective.
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121
Bloomberg: RF FP
Reuters: EURA.PA

 

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EQT VI brings in minority partners to accelerate growth of Anticimex

eqt

  • EQT VI brings in blue chip investors such as AMF, AP6, Volito and Cubera in a 19% minority stake sale in Anticimex to accelerate growth
  • EQT VI remains majority owner and continues to support Anticimex in becoming the global leader in preventive pest control

EQT VI today announces the decision to bring in a small group of partners through a 19% minority stake sale in Anticimex (“the Company”), valuing the Company at an enterprise value of approximately EUR 2.3 billion. The minority partners will hold the same mix of instruments as EQT VI.

Since the acquisition in 2012, EQT VI has transformed Anticimex from being a Nordic services conglomerate into becoming a leading global pure play pest control business, completing over 100 acquisitions worldwide and introducing the disruptive digital solution Anticimex SMART. During the EQT VI ownership period, Anticimex has tripled revenues and more than quadrupled its operating earnings.

Headquartered in Sweden, Anticimex operates 142 branches in 17 countries across Europe, Asia-Pacific and the US. With the Company’s over 80 years of consecutive revenue increase and recent growth acceleration, EQT VI remains a committed owner with an industrial and long-term approach.

“EQT VI is pleased to welcome the new investors and we see them as strategic business partners. Anticimex will now continue its journey towards becoming the global leader in preventive pest control with further international expansion and investments in the next generation of digital pest control technologies. I see this as yet another great example of EQT’s “future-proving” strategies in action”, says Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI.

Jarl Dahlfors, CEO of Anticimex complements: “Anticimex has grown tremendously together with EQT VI and we see attractive opportunities to continue expanding our business. Both through organic and acquisitive growth, as well as continued margin improvements. The ambition is to have revenues of EUR 1 billion with 20% margin within a few years. This is well in line with the historical track record of more than 20% top-line growth annually and a margin uptick of roughly one percentage point per annum. We welcome our new partners and look forward to their support in realizing that goal.”

The transaction is expected to be completed during the fourth quarter of 2017.

Contacts
Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI, +46 8 506 55 448
EQT Press Office, +46 8 506 55 334

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Anticimex
Anticimex is a leading global specialist in preventive pest control with operations in 17 counties across Europe, Asia-Pacific and the US with headquarters in Stockholm, Sweden. With its approximately 4,500 employees, Anticimex serves more than 3 million customers across the globe and offers a broad range of preventive pest control solutions, including the digital solution Anticimex SMART and pest insurance.

More info: www.anticimex.com

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Bregal Unternehmerkapital acquires stake in Rehms Building Technology

Bregal unternehmerkapital

Bregal Unternehmerkapital is the new majority owner of Rehms Building Technology Holding GmbH. The group, headquartered in Borken/North Rhine-Westphalia, is a leading full-service provider of technical building services and is aiming to continue its significant growth dynamic of recent years.

In acquiring Rehms Building Technology (recently renamed from NRW Building Technology) from funds advised by Ufenau Capital Partners, Bregal has again broadened its portfolio to include a company with a decades-long tradition of family entrepreneurship in a highly attractive market that promises enormous future potential. With its eight group companies, including the well-established J. Rehms GmbH, the group focuses on heating, ventilation, air conditioning, sanitary installations and electrical systems as well as measurement and process control technology. It serves numerous public-sector, commercial and private customers. The market for hotel, industrial, residential and office structures is characterised by steadily increasing order volumes. With 600 employees, Rehms Building Technology stands for reliability, innovation and quality. The group is benefiting from, and actively shaping, growth trends in building renovation and remodelling, senior-friendly design as well as smart and green building technologies.

Bregal will continue to grow the company both organically and through strategic acquisitions as part of a committed, long-term partnership with Heinz-Josef Rehms (who continues to be a co-owner of the business) and the company’s management team. We are looking forward to the challenges ahead.

Press contact:

IRA WÜLFING KOMMUNIKATION
Dr. Reinhard Saller
Phone: +49 89 2000 30-30
bregal@wuelfing-kommunikation.de

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With $2.6M in funding, Gabi wants to ensure you always have the best insurance rate

Project A

With $2.6M in funding, Gabi wants to ensure you always have the best insurance rate “Something this important should not be so complex.” – Hanno Fichtner

Gabi, a San Francisco based insurance startup, has raised $2.6M in seed funding from A Capital, SV Angel, Project A and a group of angels. Gabi is a personal insurance platform that ensures customers always have the right coverage at the best price.

Gabi provides insurance shoppers with unprecedented visibility into rates, in a single place where they can compare all the major insurance companies’ rates and instantly get a quote without having to go to multiple sites and fill out forms. Moreover, Gabi’s quotes are completely unbiased, as they’re driven by technology rather than insurance agents focused on commissions.

Gabi’s powerful technology reviews and compares people’s current insurance rates to major insurer’s rates, then finds the right coverage at the best rate possible. At signup, customers link their car and home insurance accounts or send their policies to Gabi. Gabi then analyzes their current coverage and compares the rate with those of major insurance companies to find a better price for the same coverage.

“Our technology allows us to put the customer first again, simplify the process and save consumers a lot of money every year,” said Gabi co-founder and CPO Krzysztof Kujawa. “Our algorithm looks into the existing insurance policies of our customers and automatically checks for savings across the 20 biggest insurance companies,” explains Kujawa. “Customers no longer need to provide their detailed insurance information. By scanning existing insurance documents to create an insurance profile for each customer, Gabi saves the customer this tedious step.”

“Before Gabi, insurance customers typically had to fill out long forms, then get quotes from a handful of companies and make relatively uninformed decisions, never hearing back from their agent after they’ve purchased coverage,” says founder and CEO, Hanno Fichtner. Gabi is turning this model around by letting the technology do the tedious and time-consuming search for the best insurance, faster and with more transparency for customers than ever before.

The Gabi algorithm has already found savings of more than $460 per year on average for more than 60% of its customers. After the initial comparison at signup, Gabi constantly checks for better offers and functions as a digital insurance folder that allows customers to manage all insurance policies one place. As the customer’s life situation changes, e.g. purchase of a new car, moves, etc., Gabi adjusts its insurance searches accordingly.

Gabi is currently live in California, reviewing insurance for personal lines like auto, home, renters, umbrella and life. Gabi is also free, and customers can be sure to never receive spam or sales calls.

With the engineering team based in Lodz, Poland, and headquarters in San Francisco, the Gabi team consists of 12 people. Gabi was founded in 2016 by Hanno Fichtner, Krzysztof Kujawa, Vincenz Klemm and Pawel Olszewski.

About Gabi
Gabi Personal Insurance Agency, Inc. is an insurance platform that ensures customers always have the right coverage at the best price. Gabi has launched in CA in January 2017 and is backed by A Capital, Project A, SV Angel and a group of angels. It was founded in 2016 by Hanno Fichtner, Krzysztof Kujawa, Vincenz Klemm and Pawel Olszewski.

Contact
Hanno Fichtner, press@gabi.com

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DGI Logan acquires Hadco Services Inc. as part of its diversification strategy

ik-investment-partners

Supported by its shareholder the IK 2007 Fund, which is advised by IK Investment Partners (IK), Doedijns Group International (DGI), through its US subsidiary Logan Industries International Corporation (DGI Logan), has acquired Hadco Services Inc. (Hadco). Hadco is a specialised repair and service company based in Mobile, Alabama.

Diversification
DGI, headquartered in the Netherlands, is a leading supplier of hydraulic equipment and repair and maintenance services for a wide variety of industries. The acquisition of Hadco fits perfectly into DGI’s diversification strategy. Hadco has a strong presence in the Alabama steel region and the US dredging industry, two target markets for DGI. Hadco’s focus is on repair and (field) services for hydraulic cylinders, gearboxes, and pumps and further strengthens the repair and maintenance capacity of DGI.

Local service
The acquisition of the assets of Hadco follows the opening of DGI Logan’s Louisiana based Offshore Operations & Maintenance Services location in January 2017. The combination of the three USA based DGI Logan locations (Houston, New Iberia and Mobile) gives the company a strong local presence in the oil & gas, steel and dredging industry, enabling DGI Logan to service its customer base locally. In addition, the engineering support will complement Hadco’s repair skills and the scale of the combination will lead to a wider repair and maintenance solutions portfolio. Additionally the support of New Iberia and Houston will open up a higher tier level capacity of repairs to Hadco Services.

Founded in 2005, Hadco is currently owned by its founder, Bobby Hadley. He will remain at Hadco as the General Manager to provide continuity and stability for this business and current customers. “The link up with DGI Logan will allow us to further expand our hydraulic services and capacity, benefitting our existing customers. We are looking forward to collaborate with our new colleagues at DGI Logan,” said Hadley.

Frank Robben, CEO of DGI, said: “The acquisition of Hadco is the next logical step in our strategy of industry diversification and further develop of DGI’s footprint. We now have acquired a business that is highly respected in the steel and dredging industry, and claimed a presence in the strategically important Alabama region which is home to a large segment of the USA steel industry. Additionally, Hadco’s expertise in hydraulic repair and maintenance will reinforce our competitive advantage.”

IK Investment Partners commented: “This transaction is in line with our strategy to support DGI’s international expansion. The company further strengthened its position as a hydraulic market leader, providing engineering, design, manufacturing, repair and maintenance services for high demanding industries.”

Dean Carey, Technical Director at DGI Logan, is excited to start work with Hadco: “This move to join-up with Hadco has many benefits to both companies. It is the obvious next move, and we are extremely pleased to join forces with Bobby and his team. The integrity and loyalty Hadco shows when dealing with their customers and employees matches the way DGI Logan does business.”

For questions:

Doedijns Group International
Frank Robben, CEO
T: +31 (0)85 488 13 00

DGI Logan
Shayne Babich, CEO
T: +1 713 849 2979

About Hadco Services Inc.
Hadco Services Inc., founded in 2005, is a specialised provider of repair and maintenance services to the dredging and Alabama steel industry. In addition to offering an extensive range of repair and maintenance services for hydraulic equipment, like cylinders, gearboxes, and pumps, Hadco’s qualified service engineers are also certified to provide field services in accordance with the requirements of the dredging and steel industry. The success of Hadco has been established upon a solid reputation for quality services, dedicated project management and on-time delivery.

About DGI Logan
DGI Logan started in 2001 primarily as a hydraulic cylinder repair facility. The company used its extensive experience in hydraulic systems and engineering to expand its capability to providing hydraulic equipment solutions in other areas of the offshore industry. In November 2012, DGI Logan was acquired by Doedijns Group International. One of DGI’s core business goals was to further enhance their already established hydraulic division in Europe and to capitalize on the USA and global offshore market controlled by many of the USA suppliers. DGI Logan was a perfect fit in meeting this objective.

About Doedijns Group International
Celebrating over 140 years of technical innovation, DGI has developed market leading positions in hydraulics and controls. With our global facilities and our highly skilled work force we continue to create added value solutions for the oil & gas, maritime, high-end machine building and heavy industries. From initial design engineering, through to specification, manufacturing and commissioning, DGI is the global partner of choice for local service. For more information, please visit the DGI website: www.dgi-company.com

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3i announces sale of Mémora

3i announces sale of Mémora generating proceeds of £117 million

3i Group plc (“3i”), and funds managed by 3i, today announce the sale of Mémora, the leading Iberian funeral services company, to Ontario Teachers’ Pension Plan (“Ontario Teachers’”), Canada’s largest single-profession pension plan. Proceeds to 3i will be £117m. This compares to a valuation of £86m at 31 March 2017.

Mémora was founded in 2001 and is headquartered in Barcelona. It is the leading funeral services player in the Iberian market, with a total of 115 parlours, 24 crematoriums, 13 cemeteries and 91 retail outlets in the Iberian Peninsula. It has a leading position in Barcelona as well as in other regional markets in Spain and Portugal, and a strong foothold across its remaining markets. It offers a range of funeral services such as ceremonies, documentation support and dedicated family consultants.

3i invested in Mémora in 2008. Since then, the company has expanded through both acquisitions and organic growth. In 2011, Mémora increased its shareholding in Serveis Funeraris de Barcelona to 85%, thereby consolidating its leadership position in the region. In addition, multiple acquisitions have been completed across Spain and Portugal, including Agnus Dei in 2015. Early on, 3i supported the implementation of a comprehensive Corporate Governance programme, focused on developing the overall strategy. 3i also introduced Juan Jesús Domingo as CEO and Richard Golding, initially as Non-Executive Director and then as Chairman, to the Board.

Pablo Echart, Director at 3i Spain, commented:

“During our investment period, Mémora has cemented its leading market position in the provision of funeral services in Spain and Portugal. With 3i’s support, Mémora’s management team has built a differentiated robust business model to capture the growth potential in this market. I would like to thank CEO Juan Jesús Domingo and his team for their commitment, and I wish them well in the future”.

Juan Jesús Domingo, CEO of Mémora, added:

“3i has been an extremely supportive partner to Mémora. It has helped us to develop our commercial platform, including the design and launch of the Electium service, and to improve our customer-centric, high quality delivery model. We look forward to working with our new investor to further accelerate Mémora‘s growth.”

Jo Taylor, Senior Managing Director, International, of Ontario Teachers’, commented:

“Mémora presents a unique opportunity to invest in a sector we have extensive experience in and fits our investment mandate perfectly. By partnering with the market leader, we will build on Mémora’s strong business foundations, and grow its geographical footprint, while supporting the delivery of a best in class customer relations model. We look forward to working with management and the broader team on this exciting new chapter.”

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AUCTUS and PharmaLex acquire US Add-Ons

Auctus

 

PharmaLex Group strengthens the US presence with acquisition of Safis Solutions, The Degge Group, Ltd. and Complya Consulting Group.
The mergers demonstrate PharmaLex’s commitment to the US market and complements its existing EU medical device expertise.
Munich/Frankfurt: As of June 2017, the PharmaLex Group, a leading specialist provider of development consulting and scientific affairs, regulatory affairs and pharmacovigilance and a portfolio company of the funds advised by AUCTUS, has completed the formal acquisitions of Safis Solutions, The Degge Group, Ltd. and Complya Consulting Group.

 

Safis Solutions is headquartered in Indianapolis, IN, USA. Founded in 2002, the company specializes in regulatory affairs, having a particular strength in medical devices. “The provision of this additional regulatory experience will help support making us a partner of choice for global medical device and combination product projects”, explained Dr. Thomas Dobmeyer, CEO PharmaLex.
The Degge Group’s focuses on pharmacoepidemiology and pharmacovigilance services and was founded in 1988 by Judith K. Jones, MD, PhD, FISPE. In the present era of large-scale global investigations and safety issues. The Degge Group enhances the PharmaLex Group’s offerings with its pharmacoepidemiology expertise and its specialized staff. “The addition of The Degge Group further establishes our intentions to build our US presence following our recent acquisition of Safis Solutions” explained Dr. Tilo Netzer, CEO PharmaLex.
Complya was founded in 2007 by Jonathan Morse and is based in Boston, MA, USA. Their main area of expertise is US FDA GXP Quality Assurance services. The merger enables PharmaLex to build on its existing US FDA Quality and Compliance expertise. “By joining the PharmaLex Group, Complya is now even better positioned to serve clients in new markets and locations, and to provide valuable new services to our existing clients in Boston and internationally” said Jonathan Morse, CEO, Complya Consulting.
The acquisitions strengthen the US footprint of PharmaLex and is the basis to build the new business unit quality & compliance services as well as enables PharmaLex to even better serve its client base globally. The PharmaLex Group now has 100 employees with in total five offices in the US and 25 offices in 12 countries with over 620 employees and more than 650 satisfied clients worldwide.
“Leveraging on the three US acquisitions PharmaLex has now become a truly global player well positioned to serve global customers,” explains Dr. Nicolas Himmelmann, partner at AUCTUS.
The transactions were led by Dr. Nicolas Himmelmann, Benjamin Seifert and Peer Weder.

 


PharmaLex

PharmaLex combines local expertise with global reach in the area of development consulting and scientific services, regulatory affairs and pharmacovigilance. A proven track record of success in outsourcing programs, more than 25,000 successfully completed projects for over 650 clients worldwide, as well as extensive experience in all therapeutic areas and product groups, including advanced therapy medicinal products and biopharmaceuticals, medical and borderline products and alternative therapeutic approaches.

Contact:
Ms. Eva Keck
Director Marketing, PharmaLexGmbH
eva.keck@pharmalex.com
+49 621 18 15 38 158
Harrlachweg 6; 68163 Mannheim, Germany


AUCTUS Capital Partners AG
With more than 100 transactions since 2001, AUCTUS is the leading private equity firm for the German-speaking SME sector (“Mittelstand“). For its performance, AUCTUS has repeatedly received awards as the best German private equity fund. The AUCTUS team consists of 14 experienced private equity experts and supervises 18 platform enterprises from various industries. AUCTUS seeks majority interests of companies in the context of buy-and-build strategies, succession and corporate spin-offs and provides growth capital to enterprises. The latin word “AUCTUS” translates the entrepreneurial mind-set of focusing on “sustainable growth”. Together with the management teams, AUCTUS strives to increase the value of the portfolio companies by sales and earnings growth. With assets under management of more than EUR 500m, AUCTUS builds on a loyal investor base of renowned financial institutions, successful entrepreneurs and family offices.
Contact:
AUCTUS Capital Partners AG
T +49 (0) 89 15 90 700-25
Email: publicrelations@auctus.com
www.auctus.com

 

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Bregal Unternehmerkapital to acquire NRW Building Technology

Bregal unternehmerkapital

Bregal Unternehmerkapital to acquire NRW Building Technology

Munich / Borken – Funds advised by Bregal Unternehmerkapital (“Bregal Unternehmerkapital”) are to acquire a majority stake in NRW Building Technology Holding. The business group based in the North Rhine-Westphalian city of Borken is a provider of technical services for buildings. The stake is sold by the Swiss investment group Ufenau Capital Partners. Both parties have agreed not to disclose the sum and further details of the transaction. Bregal Unternehmerkapital specialises in supporting mid-sized companies and intends to chart the course for further growth of NRW Building Technology by continuing and accelerating the successful “buy-&-build” strategy. The market sector in which the company operates also offers tremendous potential for organic growth.

NRW Building Technology is a leading full-service provider of technical building services. Its range of capabilities extends from heating, ventilation, air-conditioning and plumbing equipment to measuring and control technology. The group comprises eight companies – including its core business Rehms, a company with a long tradition of quality and service excellence. NRW Building Technology employs about 600 people and generates an annual turnover of €110 million. In recent years, the group has grown tremendously thanks to the decades-long entrepreneurial family tradition of the Rehms family. Under the leadership of Heinz-Josef Rehms, who will continue to be a co-investor in the business, NRW Building Technology has generated significant growth – fuelled by both organic gains and strategic acquisitions. The group focuses strongly on reliability, innovation and quality. The company has benefitted from growth trends in the areas of renovation and remodelling, senior-friendly design, smart building technologies and green building.

About Bregal Unternehmerkapital

Bregal Unternehmerkapital is part of a family-owned business that has been built up over generations. Its investment activity is based on long-term commitment and independent of developments in the financial markets. Bregal Unternehmerkapital identifies companies, with strong management teams, that are regarded as market leaders or “hidden champions” in their particular segment. Flexible financing and transaction structures enable it to acquire both minority and majority stakes. In doing so, Bregal Unternehmerkapital is also able to handle complex industry spin-offs, management buy-outs and succession situations in a sensitive, non-dogmatic manner. Bregal Unternehmerkapital aims to help companies to achieve a sustained improvement in sales and profitability, and provides them with capital, proven financial expertise and access to a broad network of entrepreneurs and industry experts.
Further information: www.bregal.de/en

Press contact

IRA WÜLFING KOMMUNIKATION GmbH
Dr. Reinhard Saller
Ohmstraße 1, D-80802 München
T. +49 89 2000 30-30
Mail bregal@wuelfing-kommunikation.de
www.wuelfing-kommunikation.de

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The European Commission has approved the combination of Intrum Justitia and Lindorff

On June 12, 2017 the European Commission approved the combination of Intrum Justitia and Lindorff. The Commission’s decision is conditional upon the divestment of Lindorff’s business in Denmark, Estonia, Finland and Sweden as well as Intrum Justitia’s business in Norway (see press release dated May 18, 2017 for more information).

The combined company will, through its scale and diversification, be ideally positioned to capture the strong market growth in the Credit Management Services  (CMS) industry. By joining forces, both local and global clients will benefit from a strong pan-European platform, enhanced service offering, innovative solutions and best in class compliance.

“I am very pleased that the combination of these two strong companies has now been approved and that we are able to close the transaction as planned. The combined business has the potential to deliver significant value to clients, shareholders and society by creating a very well-positioned and respected player in our industry both in terms of skill and geographic spread,” says Lars Lundquist, Chairman of the Board in Intrum Justitia.

“This is the day that we have been waiting for. These two companies are a great fit and will become a leading force in shaping the future of credit management services. Nordic Capital looks forward to continuing to support the combined business as a listed company and sees strong potential for further value creation,” says Kristoffer Melinder, Managing Partner, NC Advisory AB, advisor to the Nordic Capital Funds.

“I am dedicated to the success of this combination and I am of course thrilled that we now have the necessary approval from the European Commission. Realizing the full potential of the combined company will be a team effort which I am proud to lead once the transaction is closed”, says Mikael Ericson, CEO & President of Intrum Justitia.

On June 9, 2017, the Board of Directors of Intrum Justitia AB announced the decision that Mikael Ericson will be the CEO and President of the combined company once the transaction is completed. The decision was made in agreement with the proposed new Board members nominated by the Nomination Committee on June 7, 2017.  Per E. Larsson, currently Chairman of Lindorff has been nominated as new Chairman of the combined company. Per is the former CEO of OMX, Dubai International Financial Exchange and Borse Dubai, as well as former Chairman of the Board of the Stockholm Stock Exchange and board member of Helsinki Exchanges.

The transaction is expected to close within the next 10 working days. Lindorff will be consolidated into the financial statements of Intrum Justitia from late June  2017.

 

About Lindorff:

Lindorff has been in the business of helping people manage credit for over 100 years. Its headquarters are located in Oslo, Norway, the same city as Eynar Lindorff founded the company back in 1898. Today it has 4,400 people in 12 countries across Europe helping customers back to a life of sustainable spending. Nordic Capital Fund VIII is a majority shareholder in the company which offers services within debt collection and debt purchase as well as payment and invoicing services. In 2016 Lindorff generated EUR 647 million in net revenue (2015 EUR 534 million). For further information, please visit www.lindorff.com

About Intrum Justitia:

Intrum Justitia offers comprehensive services, including purchase of receivables, designed to measurably improve clients’ cash flows and long-term profitability. Founded in 1923, Intrum Justitia has some 4,200 employees in 21 markets. Consolidated revenues amounted to SEK 6.1 billion in 2016. Intrum Justitia AB is listed on Nasdaq Stockholm since 2002. For further information, please visit www.intrum.com

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