Visma continues to acquire companies within its business area for efficient commerce processes.
ABC Kredittstyring AS offers traditional debt collection, invoice administration, as well as judicial collection, and will bring scale benefits to Visma’s Norwegian collection business.
2010 has been a challenging year for most Norwegian companies within debt collection, as the new collection regulations have affected profitability. ABC, however, increased its revenue and delivered a very strong result in 2010.
- “With this acquisition we are continuing to expand our presence in the collection industry, and we are already looking for additional acquisitions”, says Øystein Moan, Visma CEO.
ABC is headquartered in Sandvika outside of Oslo, and has 23 employees. The company was founded in 1985 and has since then built up a strong and diversified customer base, mainly within the segment of small and medium sized enterprises (SME). The company had a turnover of approximately NOK 30 mill in 2010.
ABC will be a good geographic complement to Visma Collectors Norway as the collection business is quite geographical by nature for the SME customer segment. ABC is strong in the Oslo region and Visma is strong in the Trondheim region.
- “Visma clearly stood out as the preferred buyer of ABC. Visma is well established within the debt collection business and they presented favourable future plans for ABC”, says Managing Director of ABC, Lauritz Christensen. “We are very satisfied with Visma as our new owners, and we see significant potential for further growth within the Visma Group.”
Kohlberg Kravis & Roberts (KKR), who recently acquired majority ownership in Visma, is encouraging additional acquisitions within core businesses such as debt collection. Therefore, Visma is interested in actively reviewing and acquiring additional Nordic collecting businesses.
For further information, please contact:
Øystein Moan, CEO of Visma, +47 920 80 000