Back in March, we were pleased to announce that we had acquired Kredinor in Denmark as a part of our expansion strategy. We are pleased once again because we are welcoming yet another strong player to the Collectia Family. This time we are strengthening our position in the Norwegian market, where we have acquired the well-established debt collection company, Equity Gruppen AS. In recent years, the company has proven to be a fast-growing company with a focus on digitization and good IT integrations for various accounting programs – an approach that Collectia generally possesses, as we also see the clear link between invoicing services and the subsequent follow-up.
As previously communicated, Collectia Group already owns the Norwegian debt collection company Crone AS. The companies will merge and become Collect AS. The merger will enable Collectia to establish itself as an even more solid and stronger player in the Norwegian market, where we already serve many customers.
“We see the acquisition of Equity Group as a huge opportunity for all parties. The synergy effect of this makes it possible to take larger shares of the Norwegian and Nordic markets – while at the same time safeguarding the values that underlie the two companies,” says Otto Havneraas, CEO of Crone AS.
A Perfect Match
The two Norwegian companies complement each other in several ways. With their different customer segments, they will complement each other and cover a larger share of the market in different industries. They will also benefit from each other’s strengths, which include different technological solutions, solid sales teams, and established co-operation across the Nordic borders. Benth Walmestad, CEO of Equity Gruppen AS, explains that the new ownership will be positive for both existing customers, partners, and employees.
“We want to provide the same services with the same people, but with an expanded product range, now also throughout the Nordic region. Through the Collectia system, we will continue to be very competitive – and not least be even better equipped for the changes and technological challenges that come in the future”, says Walmestad.
How Does it Affect the Customers?
For customers who do not use our Norwegian department to recover Norwegian claims, the acquisition has no effect. But for those, who use the Norwegian department, will experience a better service in the form of optimized and streamlined collection solutions. Christian la Cour Valentin, CEO of Collectia Group, adds:
“The Equity Group is a very attractive partner for Collectia to acquire and diversify our Norwegian presence. We are pleased to welcome the Equity Group to the Collectia Group and believe that we can deliver even better products and services across our markets together.”