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Altor eyes IPO for Nordic debt collector Lindorff

11 Jun 2013

nordic_snow_170sqNordic-focused private equity firm Altor is reportedly planning to float its portfolio company Lindorff.

The Oslo-headquartered debt collector, which is owned jointly by Altor and Investor, could be listed sometime next year, said Reuters, citing the buyout firm’s executives.

Altor joint managing partner Harald Mix said, “Lindorff is an exciting case for the stock exchange. The first half of next year is the earliest we could list this company.”

Altor partner Hugo Maurstad told the agency that that a listing would be “ideal” and the firm would retain part of its stake.

The company is expected to report an EBIDTA of more than €150m this year and has an enterprise value of €2.13bn. Between 2003 when Altor invested in Lindorff from its first fund and 2012 the business saw its EBITDA rise from €43m to €247m.

Altor bought Lindorff from Norwegian insurance company Gjensidige and then merged it with Finnish firm Contant.

In April this year Altor exited Nordic foodservice wholesaler Euro Cater.

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