Collector divests Colligent third-party debt collection
Collector AB ("Collector") has entered into an agreement to divest its shares in Colligent Inkasso AB ("Colligent" or the "Company"), operating Collector's Swedish third-party debt collection business, to Ropo Capitalfor a cash consideration of SEK 240 million on a cash and debt free basis.
Colligent is a wholly-owned subsidiary of Collector, offering third-party debt collection and legal services to Swedish customers, primarily within the real estate and logistics industries. The Company has approximately 60 employees and is part of Collector's Corporate segment. Following the closing of the transaction, Collector will continue to carry out debt collection activities in relation to its internally generated and purchased non-performing loans and receivables.
– Collector's product offering has evolved over time and third-party debt collection is no longer part of Collector Group's core business. It is important for Collector to focus on strategically important business areas, where we want to grow over time and increase our profitability. The divestment of Colligent is part of these efforts and we are pleased to have found a reputable new owner of the Company, well-equipped to further develop Colligent's business, says Martin Nossman, CEO of Collector.
The divestment is expected to have a limited effect on Collector's income statement and balance sheet. The Common Equity Tier 1 ratio for the consolidated situation is expected to be strengthened by approximately 0.4 percentage points. The transaction is expected to close during the fourth quarter 2019.
For further information, please contact:
Peter Olsson, CFO
Telephone: +46 73 712 04 46
Madeleine Mörch, Finance & IR Manager
Telephone: +46 73 712 04 52
This is information that Collector AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 8 October 2019 at 9:00 a.m. CET.
The acquiring entity is Ropo Holding 2 Oy which is a portfolio company of Adelis Equity Partners Fund II AB.
Collector is a leading digital niche bank that develops financial solutions for private and corporate customers. In the Retail segment, the Company is engaged in lending to private individuals, invoice and payments by instalments to e-commerce and retail companies, credit card services, financial apps and deposits. The Corporate segment includes payment solutions for e-commerce and stores, factoring and company credits, property finance, and debt collection on behalf of customers (assignment debt collection). The Group consists of the parent company Collector AB (publ), wholly owned subsidiary Collector Bank AB, where the main business is conducted, Collector Payments AB and Collector Payments Finland OY where parts of the payments business are conducted, and Collector Ventures with investments in Fintech. The company has offices in Gothenburg (head office), Stockholm, Helsinki, Turku and Oslo. Collector is listed on Nasdaq Stockholm.
Collector AB (publ) 556560-0797 | P.O. Box 119 14, 404 39 Gothenburg, Sweden | Switchboard +46 10-161 00 00 | E-mail: email@example.com | www.collector.se