Lowell GFKL Group, a European leader in credit receivables management backed by the Permira Funds and Ontario Teachers’ Pension Plan, today announces that it has entered into an agreement to acquire Tesch Inkasso Group from Avedon Capital Partners and the other existing shareholders. Closing is subject to certain regulatory approvals.
After acquiring Austrian IS Inkasso Service in April, this is Lowell GFKL Group’s second acquisition since its formation in October 2015. This complementary addition strengthens the Group’s position in its core German market. It underlines the Group’s ambition to build a pan-European business with leadership positions in each of its markets. The transaction further improves diversification in terms of addressed verticals and business mix. It will deliver a range of synergies to the enlarged Group.
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