April 12, 2024

Axiom Partners takes over credit management arm of Das Holding N.V.


Amsterdam, 16 December 2021 - Private equity firm Axiom Partners is acquiring, with immediate effect, all assets in Cannock-EDR Holding B.V. and its subsidiaries from DAS Holding N.V. This means Axiom Partners is absorbing the entire credit management arm of DAS Holding, the largest credit management organisation in the Netherlands with an annual turnover of 32 million euros. The acquisition fits in with the strategy pursued by Axiom Partners, which aims for robust international growth. DAS will be concentrating on its core activities. Recently, Axiom took over Dutch company De Staffing Groep, which has an annual turnover of 450 million euros.

The transaction concerns Cannock Holding (CEH) N. V. and its subsidiaries, namely Cannock Incasso Rotterdam B.V., Cannock Chase Holding B.V. as well as all its operating companies and EDR, which consists of Economic Data Resources B.V. and DRA Debt Recovery Agency B.V., including Assensia. Both current staff and management will remain unchanged. Guus Franke, the founder and CEO of Axiom, does not rule out several additional takeovers in new sectors in the near future. “Axiom is going to invest in Cannock and expand its financial products among other things.”

International growth

Axiom Partners sees opportunities for an international growth strategy for CEH combined with additional financing products aimed at small- and medium-sized enterprises (SMEs), a segment that is increasingly neglected by traditional banks. This is why Axiom Partners is targeting a combination of credit management and company financing via factoring and other financing products. Services in the area of non-performing loans (NPLs) are also part of the total offering. As Guus Franke explains: “CEH is an important player in the credit management landscape. We see the possibility of making a difference in Europe. In doing so, we’ll be focusing on outsourcing and service provision. In line with our vision to become a pan-European player, I don’t rule out multiple takeovers down the road.”

DAS to offer more efficient service

DAS is aiming to provide better and more efficient services. The company’s CEO, Hanneke Jukema, points out: “We’re convinced that DAS can strengthen and improve its service provision if we focus exclusively on our core activities. There was simply not enough synergy in practice between DAS (legal aid) and the activities I referred to earlier. We’re working hard to further improve our services to clients.”

About Axiom Partners

Axiom Partners is a Swiss private equity firm with offices in Zurich, Amsterdam and London. The company works together with and for institutional investors, asset managers and international banks. In addition to offering advisory services, Axiom is a professional investor with an active role in various organisations. It recently acquired the Dutch De Staffing Groep (DSG), a business with an annual turnover of 450 million euros. At this moment, Axiom Partners manages a turnover of over one billion euros.

The Axiom team has many years of experience in corporate finance, mergers and acquisitions, among other areas, and has access to an extensive international network in the financial world, including banks and institutional investors. Apart from investments in Switzerland and Germany, Axiom Partners follows a strategy based on the buy-and-build principle in the staffing as well as financial sectors. Management does not rule out investments in new sectors in the near future.