Categories: Economy

Debt collector Lowell Group explores £600m Nordic sale


Europe’s greatest debt assortment group is hoisting a on the market signal above a part of its worldwide operations after approaches from bidders.

Sky Information has learnt that Lowell Group, which is owned by the personal fairness agency Permira and Canada’s OTPP pension fund, has appointed bankers to area curiosity in its enterprise in Denmark, Finland, Norway and Sweden.

Individuals near the method mentioned a sale may worth the enterprise at as much as €730m (£610m), though the value could possibly be considerably decrease than that sum.

Barclays is overseeing the public sale on behalf of Lowell, they added.

Its stability sheet portfolios are valued at €475m, with a considerable third-party debt-servicing enterprise as well as.

Extra extensively, Lowell Group has 15m clients throughout Europe.

Within the UK, it competes with the likes of Arrow World, which can also be privage equity-backed.

In its final monetary yr for which ends can be found, it reported money earnings earlier than curiosity, tax, depreciation and amortisation of £774m.

A spokesman for Lowell declined to remark.

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