Intrum Justitia acquires Legal & Trade (Ireland) and strengthens its Irish leadership position

Intrum Justitia acquires Legal & Trade (Ireland) and strengthens its Irish leadership position Intrum Justitia, Europe's leading Credit Management Services group, has acquired Legal & Trade Collections (Ireland) Limited. The acquisition makes Intrum Justitia the clear market leader in the Republic of Ireland. The combined company will have a total turnover of EUR 5 M and the combined value of debt handled amounts to more than EUR 145 M. The purchase price is set to EUR 2.150 M (approximately SEK 19.5 M) and creates goodwill of approximately EUR 1.3 M (SEK 11.8 M). "This is an important part of our strategy to strengthen and expand our market position in the United Kingdom and Ireland", said John Easden, Regional Managing Director of Intrum Justitia. "The acquisition of Legal & Trade in Ireland secures our number one market position there and also strengthens our position as a supplier of credit management services to well-known companies in the telecom and bank & finance sector." "Intrum Justitia Ireland has experienced rapid growth since it was established in 1999", said Nick Biggam, Managing Director of Intrum Justitia Ireland. "Our combined operations will give us the resources to enhance the suite of products and services to all different customer segments. Intrum Justitia also offers international collection, vital to all Irish companies with customers abroad." All Legal & Trade Collections (Ireland) Limited employees will be integrated within Intrum Justitia Ireland in Dublin. Together the companies will employ 65 office based staff in addition to a large field force. For further information, please contact: John Easden, Regional Managing Director Tel: +44 1789 415 181 Nick Biggam, Managing Director Ireland Tel: +353 1 629 6655 Anders Antonsson, Director of Communications Tel: +46 8 546 102 06, mobile: +46 703 367 818 E-mail: a.antonsson@se.intrum.com Intrum Justitia is Europe's leading Credit Management Services (CMS) group. The group has revenues of approximately SEK 2.9 billion and has about 2,900 employees in 21 European countries. Intrum Justitia's objective is to measurably improve its clients' cash flow and long-term profitability by offering high quality in relations with both clients and debtors in each local market. The group offers a wide range of CMS for commercial and consumer receivables. Intrum Justitia has a growth strategy that involves taking an active part in the industry's consolidation. Intrum Justitia, ticker IJ, has been listed on the O-list of the Stockholm Exchange (Stockholmsbörsen), since 7 June 2002. As of July 2004 the share is listed on the Attract40 section. For more information, please visit www.intrum.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/10/11/20041011BIT21930/wkr0001.pdf PDF-version