Debt collector Lowell Group to potentially sell its Nordic operations

Leeds-based debt collection business, Lowell Group, is reported to be exploring a sale of part of its international business.

Sky News today says it has learned that Lowell Group is fielding interest in its operations in Denmark, Finland, Norway and Sweden.

Barclays is overseeing the auction on behalf of Lowell, which has offices at Thorpe Park, Leeds, and is owned by private equity firm Permira and Canada’s OTPP pension fund.

Lowell Group’s Nordic operations were acquired from Intrum in 2018. Its balance sheet portfolios are valued at €475m/£400m, with a third-party debt-servicing business in addition.

Lowell Group has about 15 million customers across Europe. In its last financial year for which results are available, the group recorded cash earnings before interest, tax, depreciation and amortisation of £774m.