European ARM firm Intrum Justitia announced today that it is acquiring Advis A/S, a leading debt collector in Denmark. Advis is a market leader in the telecom sector, with a good presence also in the media and utility segments.
The acquisition is expected to be completed in October. The purchase price payable at closing is $24.6 million on a cash and debt-free basis.
Advis has about 60 employees and 2013 revenues of about $9.7 million. During 2012 and 2013, the company reported annual revenue growth of close to 20 percent, with EBITDA margins of about 22 percent.
“This transaction is in line with Intrum Justitia’s strategy of strengthening our credit management business through acquisitions. Through Advis A/S, we will broaden our Danish customer base, gain access to data in new client segments and improve efficiency in operations through economies of scale,” said Lars Wollung, President & CEO of Intrum Justitia.