We advised Lowell, Europe’s second largest credit management company, on divesting its Estonian subsidiary Lowell Estonia to an Estonian-based debt collection agency Julianus Inkasso.
Focus on Nordic core markets
Petri Koivunen, Director of Lowell Estonia tells that the Lowell Group acquired Lindorff AS in Estonia in 2016 and has decided now to exit the Estonian market. “This transaction allows us to focus on Denmark, Finland, Norway and Sweden and we’re very happy to sell our Estonian business unit to the Estonian market leader.”
Ülar Maapalu, Julianus Inkasso management board member, explained that as a result of the merger Julianus Inkasso now has over 60,000 new active claims, making the company’s database of debtors the biggest of its kind in the country. “The fact that the database has expanded means we’ll now be able to make more accurate and more just decisions when searching for payment solutions,” he said. “It will also help us work with clients and debtors to look for solutions.”
Our services and project team
We advised Lowell in all phases of the transaction, including drafting and negotiating transaction documents. The project team consisted of partner Toomas Prangli with senior associate Kai Vainola and associate Nele Suurmets.