The purchase sum is based on a net-debt-free valuation of NOK375m, entailing valuation multiples below Intrum Justitia’s current valuation.
Aktiv Kapital’s Nordic operations will be integrated into Intrum Justitia’s Nordic organization during 2011.
The acquired operations employ some 150 people in Norway, Sweden and Finland and are expected to generate revenues of approximately NOK200m for 2010 with a margin of 19%.
The acquisition is expected to strengthen Intrum Justitia’s market position, particularly in the Norwegian market.
Intrum Justitia managing director of Northern Europe region Rickard Westlund said the acquisition of Aktiv Kapital’s credit management operations is an important step in the right direction for Intrum Justitia with regard to its strategy of holding a market-leading position both in the Nordic region and throughout Europe.
"The acquisition particularly strengthens our position in the Norwegian market, where we are currently relatively small.
"I am happy that the deal is now approved by the Norwegian authorities and that we can start the work of integrating the operations and continue developing Intrum Justitia together with our new colleagues," Westlund added.
