Herkules Private Equity Fund III acquired Gothia in 2008. During Herkules’ ownership the company has been transformed into having state of the art routines, reporting and internal processes. Furthermore, Gothia has driven significant top line growth with revenues more than doubling in the period. The main part of the increase relates to strong organic growth, especially within the administrative and financial services segment (“AFS”). In AFS Gothia has launched a series of innovative products the recent years, including the client friendly e-commerce solution “PayByBill”. In addition Gothia has acquired two businesses in the UK and a smaller company in Spain to expand its European footprint.
Gothia has become a leading European credit management solutions provider with a unique ability to service the entire credit management solutions value chain. Headquartered in Oslo, with strong presence in the Nordic region, Gothia has expanded its presence to Germany, Holland, UK, Ireland and Spain through a combination of greenfield developments and acquisitions to become a truly European player. Gothia currently employs around 1,200 people throughout Europe and serves more than 2,000 clients. Gothia has continued to secure new large client contracts and is confident of continued strong growth going forward.
“Gothia has become a leading European credit management solutions provider. During Herkules’ ownership Gothia has substantially strengthened its organization, market presence and product portfolio at the same time having solid earnings growth every year. We have had a great cooperation with the strong management team and it is definitely with mixed feelings we are selling Gothia. With this sale, Herkules Private Equity Fund III has completed its second exit with highly attractive returns.” states Rikke Tobiasson Reinemo, Partner, Herkules Capital.
Trond Kristian Andreassen, the CEO of Gothia says that: “Herkules has played an active and strategic ownership role in Gothia. The co-operation with Herkules has been extremely good. We view arvatos interest in Gothia as a proof of the solid work that has been done by the whole organization during Herkules ownership period and arvato as the ideal partner for Gothia. Going forward we believe Gothia will be part of a strong European player and will continue to develop innovative and value enhancing services for our clients.”
Herkules and Gothia management have sold 100% of the shares in Gothia Financial Group AS, to arvato. The transaction is subject to approval from Competition Authorities and Financial Supervisory Authorities.
Rikke T. Reinemo, Partner, Herkules Capital
Telephone: +47 22 04 80 06
Trond Kristian Andreassen, CEO, Gothia Financial Group
Telephone: +47 22 87 89 00
Herkules consists of three funds, with a total capital base of NOK 12.25 billion in committed capital from Norwegian and international investors. Herkules has the financial strength to acquire majority ownership positions in established companies with growth potential. Companies owned by Herkules funds are: Noratel, European House of Beds, Micro Matic Norge, Tilbords, Hatteland Display, EFG European Furniture Group, Nevion, Estrella Maarud, Gothia Financial Group, Bandak, New Store Europe, Enoro, Odlo Sports Group, Intelecom, Norsk Jernbanedrift, Helse Holding and Espresso House. More information to be found at: www.herkules.no
Gothia is a leading partner for credit administration and financial services. The group, which is owned by Herkules Capital, has had a very strong growth since it was acquired back in 2008. In 2012, the company generated over €130m in revenues and currently employs more than 1100 staff in 9 countries. Also the financial results have developed very positively in the same period.
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