DDM Debt AB, an indirect 100% subsidiary of DDM Holding AG, has announced the acquisition of an additional 25% of the share capital of AxFina Holding SA, a pan-European debt servicing provider. The acquisition takes DDM Debt AB’s total holding in AxFina to 75%. The seller of the stake in AxFina is DDM Group Finance S.A., and the transaction value for the 25% stake is EUR 7mn.
AxFina is a key partner for DDM’s loan portfolios, providing debt servicing solutions, business outsourcing services, and digital debt management solutions (“Finastic”) to multiple industries. The company is active in seven countries and has approximately 180 employees.
This acquisition represents a significant strategic move for DDM Debt AB, as it reinforces its position in the European debt servicing market. It also highlights the potential for growth in the FinTech sector, particularly in the digital debt management space.
DDM Holding AG is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 18:30 CET on 6 April 2023.
DDM Debt AB’s CEO, Gustav Hultgren, commented on the acquisition: “We are delighted to increase our stake in AxFina, which is a key partner for us in the debt servicing market. This acquisition demonstrates our commitment to expanding our presence in Europe and to growing our business in the FinTech sector.”
The acquisition of the additional stake in AxFina is part of DDM Holding AG’s wider growth strategy, which includes expanding its presence in key European markets and investing in innovative FinTech solutions.
AxFina’s CEO, Philippe Meunier, added: “We are pleased to welcome DDM Debt AB as a majority shareholder in our company. This acquisition strengthens our relationship with DDM and provides us with access to additional resources and expertise to help us grow our business.”
The acquisition of the additional stake in AxFina is subject to regulatory approvals and is expected to close in the second quarter of 2023.
In conclusion, DDM Debt AB’s acquisition of an additional stake in AxFina represents a significant strategic move for the company, as it reinforces its position in the European debt servicing market and highlights the potential for growth in the FinTech sector. With the transaction expected to close in the second quarter of 2023, it will be interesting to see how this acquisition will impact both companies in the months and years to come.
