Taylor Wessing advises the management of Lindorff Group AB on EUR 1.12 billion secondary buy-out
Taylor Wessing has advised a multinational management team on the EUR 1.12 billion secondary buy-out of Lindorff Group AB, a Norway-based debt collection company, by Investor AB and Altor Equity Partners.
Altor Equity Partners, the previous majority shareholder, has entered into a partnership agreement with Investor AB, and will remain a shareholder with 50 per cent of the company.
Lindorff is the leading debt collection company in the Nordic region, with a growing European presence. The company is headquartered in Oslo and operates in three major business areas; Payment (third party debt collections), Capital (purchasing of primarily unsecured written off debts) and Support Services (which includes credit scoring and invoicing services). In 2007 Lindorff had proforma sales of EUR 349 m.
Tom Cartwright, lead Private Equity Partner on the deal, comments:
"The size and pan-European element of this deal are indicative of Taylor Wessing's increasing ability to handle high value, complex international buy-outs."
This deal follows closely on from Taylor Wessing's recent advice to Ion Equity Limited on its £103 million leveraged acquisition of Blue Ocean Associates Limited, for which the firm was recently named runner up in The Lawyer Awards' Corporate Team of the Year – Mid-Markets. The firm was also shortlisted for Law firm of the Year at the latest unquote" Private Equity Awards.
The Taylor Wessing team advising Lindorff Group AB was led by Private Equity Partner Tom Cartwright, supported by Eleanor West (Associate) and Ann Casey (Tax Partner), who provided specialist advice on employee benefits.
Investor AB was advised by Mannheimer Swartling, while Altor Equity Partners were advised by Vinge & Thommessen.
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For more information please contact Sarah le Cheminant at Taylor Wessing:
Tel: +44 (0)20 7300 4930
Email: s.lecheminant@taylorwessing.com
Taylor Wessing LLP is a leading law firm providing legal support for commercial organisations doing business in Europe and the Middle East. Based in Belgium, China, Dubai, France, Germany and the UK, Taylor Wessing provides the full range of legal services to major corporations and growing enterprises. Taylor Wessing boasts a strong reputation in the corporate, finance and real estate sectors alongside in-depth experience across the full range of legal services including intellectual property and technology, tax, litigation & dispute resolution, employment & pensions and private client.