(Reuters) – Buyout group Advent is seeking an exit from German debt collection services firm GFKL and has asked Goldman Sachs to explore possible options including a sale, two sources familiar with the deal told Reuters.
GFKL, which specializes in the collection of outstanding claims but also helps clients with purchases of non-performing loan portfolios, may be valued at more than 500 million euros ($581 mln), one of the people said.
GFKL manages receivables of 20.2 billion euros, making it the country’s third-largest debt collector. Its 1,100 staff take care of 26,000 clients ranging from banks and insurance companies to telecoms, utilities and e-commerce firms.
Advent, which acquired Essen-based GFKL in 2009, declined to comment. GFKL and Goldman Sachs were not immediately for comment.
Before the financial crisis, GFKL was also active in auto leasing and software activities but has exited those businesses since. Advent has restructured the firm to be purely a debt collector