Axactor Acquires Altor Group and Enters the German Market

Located in Heidelberg close to Frankfurt, ALTOR has operated in the German market for more than 30 years and has currently about 200 employees. Over the last 5 years, the company has acquired 16 NPL (non-performing loans) portfolios with a total face value of more than €800m. ALTOR works with a highly scalable collection platform and has invested significantly in a new collection system over the last 3-4 years. The company manages more than €1bn in debt on behalf of banks and financial institutions. In 2015, the group delivered revenues of €21.6m and EBITDA of €4.1m (German GAAP).

The acquisition of a well-known and successful company managing an attractive portfolio with a high growth potential is in line with the Axactor strategy. For ALTOR the new owner brings the opportunity to gain market shares by purchasing large and medium sized NPL portfolios.Closing of the transaction is expected by the end of June.

“With the acquisition of the ALTOR Group, Axactor is acquiring a solid platform in Germany and will instantly be well positioned in the financial segment, focusing both on 3PC and portfolio acquisitions. We are excited to get onboard an experienced management team and organization. The previous owners, Mr. Strack and Mrs. Grebe and the management team, have over the past years built a successful business with impressive results. With an entrance into the German market, Axactor is also further expanding the geographical footprint in Europe and strengthening our position in the financial services sector”, says Endre Rangnes, CEO Axactor Group.

The former owners of the ALTOR Group Mrs Grebe (67) and Mr Strack (83) says, “the decision to sell the company we have not only successfully managed but lived for since 1987 was not an easy one. With Axactor we found a company with an excellent knowledge of the market. For us it was important that the buyer made a clear commitment to the location, the employees and the management of ALTOR in Heidelberg. We feel certain, that Axactor will ensure the future success of ALTOR and continue our lifetime achievement.”

PwC Deals acted as sole Strategic and Financial Advisor to the transaction. Closing of the transaction is expected by the end of September.