PE-backed Lindorff bolts on credit recovery firm Gextra

As part of the deal, the company’s management team, led by CEO Francesca Carafa, will retain its role at the head of the business. Following the transaction, the company will continue managing its credit portfolio.

The deal is the second acquisition for Lindorff in the Italian market. In 2016, the Norwegian group acquired Cross Factor, a non-performing-loans managing business with €2bn of assets under management; following the current acquisition, it aims to focus on the small-cap segment of the credit management market, according to a statement.

Nordic Capital acquired a controlling stake in Lindorff via its 2013-vintage Nordic Capital Fund VII vehicle in June 2015 from Swedish buyout firm Altor and investment company Investor AB. The deal valued the company at €2.3bn, according to unquote" data. The company posted a turnover of €647m in 2016, according to a statement.

Company
Founded in 2010 and based in Bologna, Gextra focuses on small-cap credit management and currently has €600m in assets under management. According to local press reports, the business generated €4.5m in revenues in 2016.

People
Gextra – Francesca Carafa (CEO).
Lindorff – Antonella Pagano (country manager).

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• Topics
• Portfolio management
• Financials
• Southern Europe
• Italy
• Build-up
• Nordic Capital