The Bibby Financial Services Group has announced today that they have acquired Kopparberg Finans AB, an independent factoring company. The deal, which was completed on Friday 12 November, forms a key part of the Group’s European expansion strategy.
Based in Ljusnarsberg, central Sweden, the business was established in 2005, and has built a strong business currently serving over 50 clients with invoice finance and debt collection services.
Bibby Financial Services, one of the world’s largest independent providers of Debtor Finance has embarked on a challenging growth strategy. This acquisition forms a key part of the Group’s global expansion strategy. In recent years, they have expanded into America, Poland, Australia, France, Canada, Ireland, India, Germany, the Czech and Slovak Republics and Hong Kong.
Mark Cleaver, Chief Executive – Europe, of the Bibby Financial Services Group commented “We have set ourselves a challenging growth objective. In order to achieve this we are continually looking for opportunities to move the business forward. We believe that this acquisition will bring real value to this group. We are delighted that Thomas Gustafsson and his team have chosen to join the Bibby Financial Services Group and as such be part of our success”.
As Thomas Gustafsson, Managing Director of Kopparberg Finans added “We are delighted to be joining the Bibby Financial Services Group. We have looked at the innovative way they have grown their business in recent years. They are recognized in the market as a leading contender and we are excited to be part of that!”
Posted on 22 November 2010