Arrow Global splashes out £55m on Italian firm

Lee Rochford

Debt purchase and management specialist Arrow Global has the acquisition of an Italian business for £55m.

Europa Investimenti, a Milan based specialist in managing distressed debt investments, has been bought by the Manchester firm.

The company has recently started a new operative cycle focussed on investments in situations of various natures and of different origin.

These include bankruptcy proceedings, impaired receivables or non-performing ones, shares in companies in a state of crisis or bankruptcy.

Arrow Global chief executive Lee Rochford said: “The acquisition of Europa Investimenti represents another logical step of our considered entry into the Italian market.

“The combination of a highly-skilled management team with an excellent track record of value creation and access to our strong funding structure, creates a powerful investment platform to drive strong returns from attractive corporate and SME assets.

“When combined with our diverse institutional fund client base and our strategy to continue to raise third-party funds to invest in high-return assets, we remain excited by Europa Investimenti’s potential to grow income from the group’s capital-light asset management and servicing business.”

Following the announcement shares in the firm rose by 5.5% to 228p.

In July Arrow Global bought a Portuguese property investment firm for £15.1m.

The company bought Norfin Investimentos and said the deal will strengthen its asset management and investment capabilities and is highly complementary to its existing Whitestar platform.

Due to Norfin’s ownership of a regulated fund manager the transaction is subject to a regulatory change of control approval by the Bank of Portugal and is expected to complete by the end of the year.

 

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