Aktiv Kapital to Sell Invoicing and Factoring Business in Nordic Area

Major European accounts receivable management company Aktiv Kapital announced Monday that it has agreed to sell its Administrative and Financial Services (AFS) unit to invoice administrator and debt purchaser Gothia Financial Group for $4.8 million.

The AFS unit provides a broad range of services, including invoice administration, account/payment tracking, invoice purchasing and factoring, Aktiv said in a press release. The unit accounted for about $19.5 million in revenue in 2007, roughly 6.5 percent of Aktiv’s total take for the year. The unit employs 65 people in Denmark, Finland, Norway and Sweden.

"Our rationale for seeking alternative owners for our AFS business is that we have experienced few synergies between offering invoice administration and purchase services to [clients] and offering debt collection or debt purchase in larger volumes,” said Erik Oyno, Aktiv CEO, in the press release.

Oyno also said that the divestment confirms Oslo, Norway-based Aktiv Kapital's commitment to the vision of dominating the non-performing consumer debt and contingency industry in its core markets.

"This acquisition will enhance our Nordic market position within invoice administration and invoice purchase,” said Gothia CEO, Trond Kristian Andreassen. Gothia is based in Varberg, Sweden.

Aktiv expects the transaction to close by May of this year.