Axactor Group secures another significant unsecured Consumer forward flow in Germany
Oslo, July 19th, 2018
Axactor Germany, an Axactor group company, has successfully secured another forward flow of fresh unsecured consumer claims, from a large financial institution. The forward flow is expected to generate an acquisition cost of approximately 20 mEUR over the next 12 months. This acquisition complements the other large forward flow closed in June, both of which deliver a large volume of claims into Axactor's business in Germany.
Doris Pleil, country manager Germany, commented "This acquisition is clear evidence that our analytical approach is working in a very tough market. The time invested by the German team has been very well spent."
Axactor plans to finance this acquisition by use of available cash existing credit facilities and will be acquired into Axactor's 100% owned company Axactor Capital Luxembourg S.à r.l.
For additional information, please contact:
Johnny Tsolis, CFO, Axactor
Mobile phone: +47 913 35 461
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 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.