Collector divests Colligent third-party debt collection
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.
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