Ashcombe Advisers is pleased to announce that it has acted as exclusive financial adviser to Ontario Teachers’ Pension Plan (“OTPP”) in connection with the sale of Lowell Group, in which OTPP is a significant minority shareholder, to GFKL, the German receivables management services business, a portfolio company of Permira, the international private equity business.
Combining both firms will create one of the largest credit management businesses in Europe with very strong growth prospects and highly complementary competencies in debt purchase and outsourced credit services. The combined group has over 15 million customers and a leading market position in the two largest European financial services markets, Germany and the UK.
Andreas Wesemann of Ashcombe Advisers commented: “We are pleased to continue our long-standing relationship with Lowell and OTPP by advising on this landmark transaction. Specialist debt purchasing businesses are increasingly diversifying to provide a broader service range to their clients, and the enlarged Lowell/GFKL group will be at the forefront of this development."