News - 04.01.2011

Gothia Financial Group acquires the British company BCW Group

Gothia Financial Group has acquired BCW Group, a leading provider of credit management and debt recovery services. The company has around 400 employees in the UK and Ireland, and offices in Glasgow, Stratford-upon-Avon, Manchester, Leeds and Dublin. Gothia Financial Group has operations in seven countries, and together with Gothia's existing business in the UK, the combined operations will become the leading player in the UK and Ireland within credit management and debt recovery for the B2C segment.

“Over the last few years, Gothia Financial Group has experienced remarkable growth in revenues. This acquisition has further strengthened our ambitions of becoming a larger European player within the areas of credit management and financing,” says Trond Kristian Adreassen, CEO of Gothia Financial Group.

Based on BCW’s strong management team, long-standing client relationships and reputation for delivery with quality, both parties see significant synergies from introducing new services and sharing competence across borders. Subsequent to the acquisition, Gothia has in excess of 800 employees. Morten Blix, Senior Partner at Herkules is extremely pleased with the acquisition: “We regard Gothia as a promising growth company. Considering Gothia’s innovative solutions, we are very optimistic for further strong growth going forward,” states Blix.

For 2010, BCW estimates revenues of approximately NOK 200 million. The company was an owner managed plc, and all of BCW’s management team are excited to continue to work for the enlarged company, with Managing Director Bryan Mouat as Country Manager for Gothia’s total operations in the UK and Ireland.

For further information please contact:

Gothia Financial Group AS: Trond Kristian Andreassen, CEO
Mobil +47 92 26 83 14

Herkules Capital: Morten Blix, Senior Partner
Mobil +47 92 80 18 24

BCW Group: Bryan Mouat, Managing Director
Mobil +44 7967176671

About Gothia:
Gothia is a leading supplier of invoice administration, financing and debt collection services. Gothia Financial Group is wholly-owned by Norwegian Herkules Capital, and has, prior to the transaction, 420 employees based in Norway, Sweden, Finland, Denmark, UK, Germany and the Netherlands.

About BCW Group:
With almost 30 years of experience, BCW Group has grown to become the UK’s premier provider of credit management and debt recovery services. With an enviable pedigree, BCW Group provides expert support across the credit management spectrum, throughout the UK and Ireland.