Hoist Finance strengthens presence in Poland
Hoist Finance, a leading European debt restructuring partner to global banks and financial institutions, has entered into an agreement, subject to certain conditions, to acquire Navi Lex, a Wroclaw-based Polish debt collection company. Navi Lex was established in 2010 and has since grown into one of the major debt collection companies in the Polish market with approximately 130 FTEs. The purchase price is not disclosed.
“The proposed acquisition of Navi Lex is a natural step to consolidate our position as Europe’s leading debt restructuring partner to large international banks and financial institutions. Navi Lex constitutes a highly attractive and scalable Polish debt collection platform with a highly respected management team and a proven track record working with a large number of originators, predominantly within the financial institutions and telecom industries. Establishing our own collection platform through the acquisition of Navi Lex will increase our operational flexibility and facilitate Hoist Finance to capture the investment opportunities in the Polish market going forward,” says Charles de Munter, Regional Managing Director of Hoist Finance Belgium, the Netherlands, Italy, France and Poland.
“Hoist Finance is renowned debt purchaser in the Polish market. Combining the debt purchasing capabilities of Hoist Finance with the experience and foothold of Navi Lex will form a solid platform for further growth in the Polish market. We look forward to working with Hoist Finance,” concludes Tomasz Lebek, CEO of Navi Lex.
Tomasz Lebek will assume the position as Head of Hoist Finance Poland. Karol Pietka, currently Head of Operations Hoist Finance Poland, will become deputy CEO with responsibility for sales and investments.
About Hoist Finance
Hoist Finance is a trusted debt restructuring partner to global banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. The total carrying value of Hoist Finance’s acquired loans is approximately EUR 810 million.
Hoist Finance is a Pan-European debt purchase company with presence in eight European markets. Hoist Kredit AB (publ) is licensed and regulated by the Swedish Financial Supervisory Authority, and is funded by the internet-based savings deposit service HoistSpar in Sweden, with more than 60,000 accounts, and by senior and subordinated unsecured bonds of in total SEK 1.1 billion as well EUR 100 million in senior unsecured bonds, listed on NASDAQ OMX.
The information above has been published pursuant to the Swedish Securities Markets Act (Sw. lag om värdepappersmarknaden).
This information was released for publication at 08.00 CET on 10 November 2014.
For further information, please contact:
Jörgen Olsson, CEO Hoist Finance
Jane Niedra, IR Hoist Finance
Phone +46 (0)8 55 51 77 90