Lindorff to Acquire Denmark's Leading Debt Collection Agency

Oslo, Norway — Lindorff has entered into an agreement to purchase the Danish collection-company FinansService. The acquisition will make Lindorff the clear market leader in Denmark and further strengthen its Nordic and European footprint.

FinansService is the leading Danish provider of outsourced debt collection services, primarily focused on serving financial institutions. The company is also present in Germany. FinansService has nearly 200 highly qualified employees.

"The acquisition is an important step in our strategy of building a leading European provider of debt-related administrative services. Lindorff has more than 100 years of history, and will with the acquisition of FinansService increase our competitiveness and ensure Lindorff’s position in Denmark. I am truly impressed by what the current management team and organization has achieved to date, and look forward to support them to further grow the Danish and German business," says Endre Rangnes, CEO of Lindorff Group.

Lindorff is a dynamic and rapidly growing outsourced receivables management company, which already holds a leading position in Europe. In most of its markets, Lindorff has a number 1 or number 2 position. The acquisition of FinansService will make it a clear number one in Denmark, and strengthen the group’s ability to serve Nordic customers.

The transaction which is conditional upon approval from the competition authorities in Germany, is expected to be finalized within 6 to 8 weeks. Carnegie has acted as financial advisor to Lindorff in connection with the transaction.

FinansService has offices in Copenhagen and Horsens in Denmark, as well as Düsseldorf and Saarbrüken in Germany.

About Lindorff
Lindorff is a leading European provider of debt-related administrative services with more than 100 years of history. Our string of services leads from customer selection to credit evaluation, invoicing, reminders, debt collection, portfolio management, customer services, accounting. Main industries are Financial institutions. Insurance, Telecom and Utilitiy, retail and SME. Lindorff has approximately 2200 employees in 11 countries – Norway, Sweden, Denmark, Finland, Estonia, Latvia, Lithuania, Russia, The Netherlands, Germany, Spain. The Net revenues in 2009 was € 374 million. Lindorff is owned by Altor Equity Fund (50%) and Investor AB (50%).

About FinansService
FinansService is the first chartered debt-collection company in Denmark. Since the establishment in the beginning of the 1990′s it has focused on the special needs of the finance industry. The company started out collecting mortgage bonds, but collects today all kinds of outstanding claims. FinansService have more than 90 banks and savings banks on the client list, as well as several consumer credit and credit card companies. FinansService has 200 employees and offices in Copenhagen and Horsens in Denmark, as well as Düsseldorf and Saarbrüken in Germany.