Mikael Ericson will be CEO of Lindorff and Intrum Justitia combination upon closing
Jun 09, 2017
The Board of Directors of Intrum Justitia AB has decided
that Mikael Ericson will be the CEO and President of the combined
company once the transaction is completed. The decision has been
made in agreement with the proposed new Board members nominated by
the Nomination Committee on June 7, 2017.
Erik Forsberg, the current CFO of Intrum Justitia, will continue
as the CFO of the combined company.
- Mikael Ericson's experience and skills, combined with the
continuity he provides, positions him well to lead the combination
of Intrum Justitia and Lindorff. The combined company is set to
capitalize on the opportunities for growth and expansion within the
Credit Management Services industry, said Lars Lundquist, Chairman
of the Board of Intrum Justitia.
In November 2016 Nordic Capital Fund VIII, currently the
indirect majority shareholder in Lindorff, and the Board of Intrum
Justitia announced the intention to combine the two companies. The
combined company will be the industry leader in credit management
services, servicing 23 countries and around 100 000 corporate
clients throughout a number of industry sectors.
- We have been in the fortunate position of having to choose
between two excellent candidates in terms of experience and skills.
Now we look forward to working together with Mikael in developing
the combined company from the day the transaction is closed. I
would also like to take the opportunity to express my sincere
gratitude towards Klaus-Anders Nysteen for a outstanding
achievement in taking Lindorff to the next level in terms of
expansion and service delivery, says Kristoffer Melinder, Managing
Partner NC Advisory AB, advisor to the Nordic Capital Funds
- I am dedicated to the success of this combination. Together
with professional and motivated people in both Lindorff and Intrum
Justitia, I have had the pleasure over the past six months of
creating a strong platform for the upcoming integration process.
Realizing the full potential of the combined company will be a team
effort which I am proud to lead once the transaction is closed,
says Mikael Ericson.
Both Mikael Ericson and Klaus-Anders Nysteen will remain the
CEOs of their respective companies until closing, after which it is
intended that Klaus-Anders Nysteen will become Senior Advisor to
the Nordic Capital Funds.
The combination is currently pending competition clearance from
the European Commission with an expected decision on June 12, 2017.
The transaction is expected to close during the second quarter of
2017 as previously communicated.
Mikael Ericson assumed the role as CEO in Intrum Justitia in
March 2016 and has worked in various senior positions in the
financial industry over the past 30 years, including Head of
Handelsbanken Capital Markets and CEO of Carnegie Investment Bank.
Before joining Intrum Justitia, he held the position as Head of
International Banking at Danske Bank.
Erik Forsberg joined Intrum Justitia in November 2011. He has
previously held the position as CFO at the PR software company
Cision, as well as positions as CFO, Group Treasurer and Business
Controller at several companies, including EF Education.
Press contact:
Nordic Capital
Katarina Janerud, Communication Manager,
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com
About Lindorff:
Lindorff has been in the business of helping people manage
credit for over 100 years. Its headquarters are located in Oslo,
Norway, the same city as Eynar Lindorff founded the company back in
1898. Today it has 4,400 people in 12 countries across Europe
helping customers back to a life of sustainable spending. Nordic
Capital Fund VIII is a majority shareholder in the company which
offers services within debt collection and debt purchase as well as
payment and invoicing services. In 2016 Lindorff generated EUR 647
million in net revenue (2015 EUR 534 million). For further
information, please visit www.lindorff.com
About Intrum Justitia:
Intrum Justitia offers comprehensive services, including
purchase of receivables, designed to measurably improve clients'
cash flows and long-term profitability. Founded in 1923, Intrum
Justitia has some 4,200 employees in 21 markets. Consolidated
revenues amounted to SEK 6.1 billion in 2016. Intrum Justitia AB is
listed on Nasdaq Stockholm since 2002. For further information,
please visit www.intrum.com
About Nordic Capital:
Nordic Capital private equity funds have invested in mid-market
companies primarily in the Nordic region since 1989. Through
committed ownership and by targeting strategic development and
operational improvements, Nordic Capital enables value creation in
its investments. The Nordic Capital Funds invest in companies in
northern Europe and in selected investment opportunities
internationally. The most recent fund is Nordic Capital Fund
VIII with EUR 3.5 billion in committed capital, principally
provided by international institutional investors such as pension
funds. The Nordic Capital Funds are based in Jersey, Channel
Islands, and are advised by the NC Advisory entities in Sweden,
Denmark, Finland, Norway, Germany and the UK. For further
information about Nordic Capital please see www.nordiccapital.com
About Nordic Capital Private Equity Funds
Since the start in 1989, Nordic Capital Private Equity Funds
have invested in large and medium sized companies, primarily in
Northern Europe. Through committed ownership and by targeting
strategic development and operational improvements, Nordic Capital
creates value in its investments. The funds invest in companies in
Northern Europe and in selected investment opportunities
internationally. They are based in Jersey, Channel Islands, and are
advised by the NC Advisory companies in Sweden, Denmark, Finland,
Norway, Germany and the UK. Additional information about Nordic
Capital is available through its corporate website, www.nordiccapital.com.
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