Europe’s largest debt collection group, Lowell Group, is putting a portion of its international operations up for sale following interest from potential buyers. According to sources close to the process, the sale could potentially value the business at up to €730m (£610m), although the final price may be lower. Lowell Group, owned by private equity firm Permira and Canada’s OTPP pension fund, has engaged bankers to manage interest in its operations in Denmark, Finland, Norway, and Sweden. Barclays is overseeing the auction on behalf of Lowell.
The Nordic operations of Lowell Group were acquired as a carveout from Intrum in 2018. Its balance sheet portfolios are valued at €475m, with a significant third-party debt-servicing business as well. In addition to its Nordic operations, Lowell Group serves 15 million customers across Europe and competes with companies like Arrow Global in the UK, which is also backed by private equity.
In its most recent financial year, Lowell Group reported cash earnings before interest, tax, depreciation, and amortization of £774m. However, a spokesperson for Lowell declined to provide further comment on the matter.