Axactor has acquired Geslico, Spain’s leading debut collection agency, from the US fund Fortress. The price of the deal was not disclosed. Axactor Espana plans to generate more than €40m in revenues this year, up from €10m in 2015. The company also plans to create almost 500 new jobs, more than double its current workforce. Founded in 1985, Geslico has 300 employees and offices in Madrid, Barcelona, Sevilla, Alicante, Valencia, Córdoba, Zaragoza and Bilbao.
“Through this acquisition we get access to a large client base with long-term relations, as well as well-trained people and a modern IT platform for collection,” said Endre Rangnes, CEO of Axactor Group. “Additionally, Axactor gets access to one of the largest databases of NPL information/ historic collection data in Spain that will enable us to be even more efficient and improve our pricing intelligence in respect of future debt portfolios acquisitions.”
