European ARM Firm Lindorff Acquires Debt Collection Subsidiary of ABN AMRO

Lindorff Group AB, a leading European provider of debt-related administrative services with more than 100 years of history, has acquired Solveon, a debt collection subsidiary of ABN AMRO Bank N.V. in the Netherlands.

The acquisition strengthens Lindorff’s position as the preferred partner for banks and financial institutions in Europe and makes Lindorff Netherlands the number one collection company for financial institutions in the Dutch market.

The deal with ABN AMRO follows a number of deals done during the last year where Lindorff has been selected as the main collection partner for Deutsche Bank in Germany and Banco Santander in Spain. Lindorff already has similar partnership agreements with the leading Nordic banks and insurance companies.

“This acquisition is part of a long term strategy in Lindorff to become Europe’s leading provider of collection services to financial institutions,” says Endre Rangnes, CEO Lindorff Group. “After the acquisition of Solveon, Lindorff holds the number one position among financial institutions in all the countries where we operate. Solveon staff is renowned for their expertise within Dutch financial institutions. Together with Lindorff‘s strong collection competence we will set a new benchmark in the industry, and have a very exciting opportunity for further growth.”

In the future, the unit staff will work for a multinational group in which their special skills are core to the business and which is renowned for its professionalism and fair treatment of customers, employees and clients.

“Lindorff is viewed as a trustworthy partner with high ethical standards, which is very important in the tough financial climate in Europe at the moment,” says Endre Rangnes.

Lindorff is the preferred expert on credit-driven services and a leading European provider within its field. Its string of services ranges from credit scoring to credit evaluation, invoicing, reminders, debt collection and purchase of debt portfolios. Lindorff has approximately 3000 employees in 11 countries.  Net revenue in 2011 was €437 million. Lindorff is owned 50% by Altor (Altor Fund 2003 and Altor fund II) and 50% by Investor AB. The headquarters are in Oslo, Norway.

Solveon is a debt collection subsidiary of ABN AMRO Bank N.V., providing services to the bank and third party clients. The company has 122 employees and their headquarters are in Amersfoort, the Netherlands.