Lowell GFKL Group, a European leader in credit receivables management, today announces that it entered into an agreement to acquire IS Group Management GmbH (trading as IS Inkasso Service) from majority shareholder HANNOVER Finanz. Closing is expected at the end of May, subject to anti-trust approvals. IS Inkasso Service is the Austrian market leader in third party collections (3PC) with a strong Swiss business.
The acquisition adds a third, highly attractive market position to the Lowell GFKL Group which is an important step towards becoming a pan-European leader in credit receivables management. It also extends the diversification of the regional and business mix in the Group’s portfolio as it increases the share of revenues from servicing.
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