Creditinfo Group becomes majority shareholder of Kredītinformācijas Birojs (KIB)
LONDON, UK, March 25th, 2021 – Today, Creditinfo Group – the leading global credit information and decision analytics provider – announced that is has increased its stake in JSC “Kredītinformācijas Birojs” (KIB) to 51%, becoming the majority shareholder.
Earlier this month, the US private equity fund Levine Leichtman Capital Partners (LLCP) became the majority shareholder of Creditinfo Group. As the result of that transaction, the share capital of the KIB joint stock company was increased, with ABLV Bank selling its shares.
The other shareholders of the company, including the leading Latvian commercial banks; AS Swedbank, AS SEB banka, AS Luminor Bank, and AS Citadele banka will remain unchanged and will continue to support KIB by serving on the Supervisory Board of the joint stock company.
Jānis Timmermanis, Chairman of the Board of KIB: “This investment is an important confirmation of the company’s potential to continue to grow despite being a relatively young entity and offer lenders throughout the Baltic region modern solutions with scoring and decision capabilities while also enabling prevention of money laundering.”
Brynja Baldursdóttir, Director of Global Markets Creditinfo Nordics: “This announcement marks a significant milestone for Creditinfo and consolidates our presence in the Baltics as a leader in providing Decision-as-a-service solutions – a key component of the Credit Bureau system. With international knowledge and local market support, Creditinfo solutions are setting a high bar wherever they are implemented.”
KIB was founded in May 2013 and is the first licensed credit information bureau in Latvia. KIB helps banks and financial institutions to manage credit risk and apply best practices in risk management and credit operations. Its activities in the field of data processing are licensed and supervised by the State Data Inspectorate.
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About Creditinfo
Founded in 1997 and headquartered in Reykjavik, Iceland, Creditinfo is a global provider of credit information and risk management solutions. As one of the fastest growing companies in its field, Creditinfo facilitates access to finance through intelligent information, software and analysis solutions.
With more than 33 credit bureaus today, Creditinfo has the largest presence in credit risk management worldwide, with significantly greater influence than competitors. For decades, it has provided business information, risk management and credit bureau solutions to major lenders, governments and central banks around the world to increase financial inclusion and create economic growth by giving SMEs and individuals access to credit.
Media Contact:
Matt Silver
Babel Agency for Creditinfo Group creditinfo@babelpr.com
+44 (0)7769 266 452
Creditinfo Group announces new majority shareholder
Creditinfo welcomes Levine Leichtman Capital Partners as new majority investor
LONDON, UK, 8 March 2021 – Creditinfo Group, the leading global credit information and decision analytics provider, today announces that the private equity firm, Levine Leichtman Capital Partners (LLCP) has become its new majority shareholder. The firm will help Creditinfo Group to keep expanding operations and support financial institutions with a full suite of best-in-class credit risk management tools.
The announcement marks another significant milestone in Creditinfo’s growth journey, as world leader in providing decision analytics and risk mitigation solutions to lenders, central banks and SMEs continues to expand. The company’s combination of international know-how and local market support, continues to fuel demand for Creditinfo’s decision analytics solutions, which use traditional and evolving data sets to help customers take an intelligent and informed approach to risk and lending decisions.
This new shareholder composition brings new impetus and direction to the company’s growth plans while also maintaining continuity for the business, with Creditinfo founder Reynir Grétarsson retaining his board seat and a significant minority shareholding.
Well-respected industry veteran, Paul Randall – who joined Creditinfo in 2007 – will lead the company through its next phase of growth as the newly appointed Group CEO, working closely with Reynir Grétarsson and LLCP.
“This investment shows Creditinfo’s potential and commitment to enable corporates, SMEs and individuals be active players in the economy” commented Paul Randall, CEO at Creditinfo Group. “We now have a new, eager and dynamic investor on board that will help us increase market penetration and expansion. They also bring a wealth of corporate experience running international businesses that will help us further strengthen our contribution to the credit risk and fintech industry. Our unique position in both advanced and emerging markets and the mix of technology our solution can incorporate give us great hopes for the future with considerable growth potential.”
Erik Nobel, Managing Director at LLCP, commented, “We are excited to support Creditinfo’s expansion and growth through this investment. LLCP’s significant experience investing in companies around the world will enable Creditinfo to further establish its leadership in the credit risk and fintech industry and support to its international client base.”
David Cowan, Senior Managing Director at LLCP, added, “We are thrilled to partner with the Creditinfo team and look forward to supporting the Company’s strategic growth plans. We believe that Creditinfo holds a unique position within their market and are confident in their continued success.”
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About Creditinfo
Established in 1997 and headquartered in Reykjavík, Iceland, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in this field of credit risk management, with a significantly greater footprint than competitors. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals.
For more information, please visit www.creditinfo.com
Media Contacts:
Matt Silver
Babel Agency for Creditinfo Group creditinfo@babelpr.com
+44 (0)7769 266 452
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLCP is a middle-market private equity firm with a 37-year track record of investing across various targeted sectors, including franchising, professional services, education and engineered products. Since inception, LLCP has managed approximately $11.7 billion of institutional capital across 14 investment funds and has invested in over 90 portfolio companies. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies.
LLCP’s global team of dedicated investment professionals is led by seven partners who have worked at LLCP for an average of 21 years. The firm currently manages approximately $7.8 billion of assets – including its most recent flagship fund, Levine Leichtman Capital Partners VI, L.P., which closed in 2018 with $2.5 billion of committed capital, and its most recent European fund, Levine Leichtman Capital Partners Europe II SCSp, which closed in 2020 with €463 million of committed capital. LLCP has offices in Los Angeles, London, The Hague, Stockholm, New York, Chicago, Charlotte and Miami.
Media Contacts:
Mark Semer or Ross Lovern Kekst
CNC +1 (917) 439-3507 or +1 (917) 842-7205
