Transcom enters into agreement to divest Danish Credit Management Services operations for an equity value of EUR 13.0 million
Stockholm, 26 February 2016
Transcom WorldWide AB (publ) today announced that the company has signed an agreement to divest its Danish Credit Management Services operations (CMS Denmark) for an equity value of EUR 13.0 million to Inga Acquisition ApS, a holding company of the current management team and an investment company. The consideration will be paid in cash at closing. The transaction is expected to close in March 2016.
CMS Denmark was part of Transcom’s North Europe region in 2015. The divested unit had a turnover of EUR 11.4 million in 2015 and has approximately 80 employees.
“I am delighted that the current management team will continue to successfully run CMS Denmark, now as a stand-alone company together with a strong financial partner. This transaction concludes the divestment of Transcom’s former CMS business unit, in line with our strategy to strengthen Transcom’s position in our core business – outsourced customer care solutions (CRM). While early collections services, e.g. payment reminder calls, are an integrated part of our core CRM business, the business model in CMS Denmark – contingent and legal debt collections – is entirely different”, commented Johan Eriksson, President & CEO of Transcom.
Transcom WorldWide AB (publ) discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 26 February 2016 at 08:00 AM CET.
For further information, please contact:
Johan Eriksson, President and CEO
Telephone +46 70 776 80 22
Ulrik Englund, CFO
Telephone +46 70 286 85 92
Stefan Pettersson, Head of Group Communications
Telephone +46 70 776 80 88