A strategic milestone was reached for the Danish debt collection company Collectia A/S when Norwegian Crone AS became part of Collectia.

"It has been a strategic goal for us to expand in Scandinavia by acquiring the right companies. With Business Broker our advisors, we have now achieved that goal," says Christian la Cour Valentin, CEO of Collectia, which now has 220 employees following the acquisition of Crone.

Collectia's desire to be present in the Scandinavian countries stems from customer demand for cross-border services. Therefore, the acquisition of the Norwegian debt collection company Crone provides an opportunity for increased customer intake and growth.

Need a specialist in business trading

Ulf Steiness and Claus Bruun advised Collectia during the acquisition process.

The collaboration began with a lead from a financial institution to Business Broker they had a client who was looking for specialists to analyze the debt collection market in Scandinavia and be the primary driving force behind an acquisition.

"The first step in our collaboration with Collectia was to align expectations. We clarified Collectia's criteria for interesting companies and thus defined an assignment that we could take to market," explains Ulf Steiness, partner at Business Broker.

Made owners interested in selling business

Strong growth figures and a dynamic organization driven by enterprising owners quickly made Crone an interesting acquisition target for Collectia. However, Business Brokers contact with Crone's owners was met with a polite rejection, recalls Crone CEO Otto Havneraas.

"We weren't interested in a purchase agreement when Ulf Steiness contacted us. We were a team of 10, enjoying good growth and with a strategy that focused solely on the Norwegian market. But Business Brokers was so serious that we agreed to a non-binding meeting in Oslo," says Otto Havneraas.

The meeting with Business Broker Crones' curiosity to meet the owners of Collectia, and when the Norwegians visited Denmark, there was reason to continue the process.

"There was an immediate cultural match. Collectia operates debt collection based on the same values and customer view as us, and it opened our eyes to the synergies of becoming part of Collectia," recalls Otto Havneraas.

Ulf Steiness from Business Broker says the following about this part of the process:

"We made the benefits for Crone's owners clear - by having Collectia behind them, they can service much larger customers while retaining a large share of ownership in Crone."

Price structure and ownership terms benefit buyer and seller

At Collectia, there is great satisfaction that Crone agreed to become part of Collectia:

"Crone is a great partner in the Norwegian market. As we already have a Swedish partner, we can now bid on offers across the Scandinavian countries," says CEO of Collectia Christian la Cour Valentin.

He attributes Business Broker of the credit to Business Broker .

"Business Broker the Norwegians and, throughout the process, presented models and solutions that served both our interests and those of Crones. That is why we now have a robust solution for our activities in Norway, which we would not have achieved on our own. It is impressive advisory work," says the CEO of Collectia.

Otto Havneraas agrees:

"Even though Business Broker hired by Collectia, we found Ulf Steiness and Claus Bruun to be so professional and reliable that we didn't need to hire our own consultants. We felt completely confident in Business Broker."

Through its advisory work for Collectia, Business Broker has Business Broker knowledge of the fintech market in Denmark and the rest of Scandinavia.