Axactor has announced a major strategic transaction that marks a turning point in its capital structure and growth strategy. Fortress Investment Group will enter the company’s shareholding with a 31% stake through a private capital increase, in a deal also supported by Geveran, Axactor’s reference shareholder.
The transaction provides a decisive boost to Axactor’s transformation process by strengthening its strategic positioning with the backing of top-tier investors, significantly reducing its leverage, and improving access to more competitive financing. It also enhances the company’s investment capacity and flexibility to pursue mergers and acquisitions, while reinforcing its efficient operating model and cost leadership in the debt recovery business.
As part of the agreement, Axactor will carry out a private capital increase of approximately €200 million. Fortress will subscribe to €175 million in shares through several funds, reaching a 31% ownership stake, while Geveran will retain at least 33.4%. Fortress, an investment manager with approximately $54 billion in assets under management and extensive experience in acquiring and managing non-performing loan (NPL) portfolios, will also appoint two board members in Oslo.
In parallel, Axactor has structured a dedicated vehicle holding unsecured asset portfolios worth €200 million, sourced from across its geographies, with Spain being one of the key markets. The company will retain a 50.1% controlling stake, while Fortress and Geveran will each hold 24.95%. This structure is expected to generate around €100 million in revenues, with the vehicle remaining consolidated in the group’s balance sheet.
The agreement also includes a long-term co-investment partnership between Axactor and Fortress, under which both parties will invest between €200 million and €400 million annually over a five-year period starting in 2027. Axactor will contribute 75% of annual investments up to €300 million, and 65% for amounts above that threshold, through a joint vehicle in which it will maintain majority ownership and full consolidation.
According to the company’s estimates, this transaction will reduce leverage from 3.7x net EBITDA to approximately 2.3x, taking into account both the capital increase and proceeds from the portfolio sale
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