31 March 2021
Silverfleet portfolio company Collectia makes second add-on acquisition
Collectia today announces that it has completed the acquisition of the Danish operations of Kredinor (“Kredinor A/S”). Financial terms have not been disclosed.
Kredinor A/S is the oldest provider of debt collection services in Denmark with over 150 years of experience, and is particularly strong within the utility and SME sectors with its sector leading subscription service.
Kredinor A/S is headquartered in Ballerup, Denmark and works on behalf of over 3,000 corporate clients and employs c. 44 FTEs.
Silverfleet Capital invested in Collectia, a tech-enabled credit management services provider, in early 2020 to support its continued international expansion in the Nordics and Germany. Founded in 1998 and headquartered in Brøndby, Denmark, Collectia is a fast-growing debt collection and debt purchase business operating in Denmark, Sweden, Norway, Finland and Germany. The Company serves approximately 13,000 corporate customers across over 600,000 active cases. With its sophisticated proprietary technology platform, credit database and advanced data analytics and AI capabilities, Collectia is a highly-differentiated business with significant potential to build market share in both existing and new markets.
Mark Piasecki, Partner at Silverfleet said: “The acquisition of Kredinor A/S strengthens Collectia’s leading position in the Danish debt collection market and further demonstrates that Collectia is a platform for continued buy & build”. Rob Knight, also from Silverfleet, added: “Kredinor A/S is a great match for Collectia, combining Kredinor A/S’s long history and strong presence in the utility and SME sectors, with Collectia’s leading technology platform.”
Christian la Cour Valentin, CEO of Collectia, adds: “We are very excited to join forces with our perfect partner in Denmark - one that shares our common values regarding treating our clients’ customers fairly, professionally, and with respect. We are pleased to welcome Kredinor A/S’s highly skilled employees into the Collectia Group and believe that together we can provide even better products and services to our clients”.
The Silverfleet investment team that worked on the transaction were Mark Piasecki, Rob Knight and Johan Boork, who are all based in Silverfleet’s London office. Collectia was advised by the law firm Lundgrens and Deloitte (financial, tax and structuring).