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November 22, 2010updated 12 Apr 2017 4:18pm

Bibby buys Kopparberg Finans

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 Bibbys client base

By Antonio Fabrizio

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

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