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Axactor enters 1st agreement to acquire unsecured non-performing loan (NPL) portfolio in Sweden.

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Oslo, 30 March  2017 - Axactor has extended an agreement to acquire 
portfolios from a large Nordic Financial Institution, to cover the 
Swedish market as well as Norway. The portfolio will be acquired on 
a similar basis to Norway, where the cases are acquired monthly. The 
cases are freshly terminated B2C, allowing Axactor to have control 
over the entire collection process.

This first NPL transaction in Sweden will have a single digit mEUR 
annual capex value. Further, given the strong pipeline it is 
expected that Axactor will significantly increase its position in 
Sweden during 2017. 

"This portfolio clearly shows Axactor's focus on investing in 
portfolios across all Axactor geographies as well as showing our 
ability to build strong relationships with partners in more than one 
country. The expectation is for this trend to continue over the next 
few years.", says Endre Rangnes, Axactor CEO.

"Acquiring our first portfolio in Sweden so soon after acquiring the 
platform, clearly demonstrates the emphasis that the portfolio team 
put on supporting the overall Axactor growth strategy.", says Robin 
Knowles, Axactor EVP Portfolio.

Axactor plans to finance this acquisition by use of available cash 
existing credit facilities.

For further information, please contact:

 

Endre Rangnes 
Chief Executive Officer
Mail: endre.rangnes@axactor.com
Tel: +46 8 402 28 00
Cell Phone: +47 48 22 11 11

Geir Johansen
Chief Financial Officer
Mail: geir.johansen@axactor.com
Cell Phone: +47 477 10 451

 

About Axactor
Axactor Group specializes in both Debt Collection and Debt 
Purchasing across several countries, with operations in Spain, 
Italy, Germany, Norway and Sweden. 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. After the latest 
acquisition of Profact AB in Sweden, Axactor has approximately 875 
employees.

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