KRUK closed the transaction to acquire Credit Base International S.r.l., the company it has worked with for the past few months on portfolio valuations and debt collection on the Italian market. Acquisition and integration of the company with 34 staff members will support the expansion of KRUK’s operations in Italy. The target company’s 2015 revenue was PLN 9.5m.
KRUK has been very active in terms of investments in debt portfolios in Italy. From the moment the company entered this market in November 2015 to October 2016, it purchased debt portfolios with an aggregate nominal value of PLN 5.9bn. The figure includes over 160 thousand debts.
“The acquisition of the company with proven track record will significantly speed up our development on Italian market. Italy is attractive for us in terms of the size of its unsecured debt sale market and potential returns. We have already marked our presence as a key entity operating on and investing in this relatively young market. The company has operated in Italy since early 1990s and has extensive experience in providing debt collection outsourcing services to financial institutions, involving both amicable settlement and court proceedings. We expect an efficient and successful integration process of the company with the KRUK team. We believe this will give us strong foundations and step up development of a leading organisation in Italy”, said Piotr Krupa, KRUK S.A. CEO.