Bibby buys Kopparberg Finans
By Antonio Fabrizio
22 November 2010
UK invoice finance specialist Bibby Financial Services has
further expanded its European coverage with the acquisition of
Swedish factoring firm Kopparberg Finans.
The deal forms part of Bibby FS global expansion strategy, which has
included acquiring new businesses as well as launching subsidiaries
over the past three years.
The acquisition of Kopparberg Finans, which
was launched in 2005, has provided another 50 clients to Bibby’s
client base. This year, Bibby has had 1,234 new clients, an 11
percent increase on last year.
Bibby FS’ European chief executive Mark
Cleaver said: “We have set ourselves a challenging growth objective
and in order to achieve this we are continually looking for
opportunities to move the business forward. We believe that this
acquisition will bring real value to the group.”
Earlier this year, Bibby FS acquired the
client portfolio of UK business Aston
Rothbury Factors, which went into administration after the
incumbent funder withdrew its funding lines.
Since 2007 Bibby has been in acquisition mood
and has added to its portfolio firms including Freightcheck in the
US, Arbuthnot Commercial Finance in the UK and Cash Reform in Czech
Republic.
The SME funder has set foot in a number of
countries including Poland, Australia, France, Canada, Germany,
India and Hong Kong.
Antonio
Fabrizio