CMS Advises Transcom in Sale of IS Inkasso Service
Transcom WorldWide S.A. has sold 100% of the Linz-based company IS Inkasso Service GmbH to the equity capital partner Hannover Finanz. CMS has advised the seller on the transaction in Austria, Germany, Poland, the Czech Republic and Slovakia.
Transcom WorldWide S.A., which is listed in Sweden, has sold IS Inkasso Service GmbH, Austria’s market leader in credit management services, to the Hannover Finanz Group. Signing of the purchase agreement has already been completed and the transaction is expected to close in the third quarter of 2014, subject to approval by the Austrian federal competition authority. The enterprise value amounts to EUR 15 million.
International law firm CMS Reich-Rohrwig Hainz carried out the vendor due diligence review for Transcom WorldWide S.A. and provided legal advice during the drafting and negotiation of the purchase agreements for Austria, Germany, Poland, the Czech Republic and Slovakia. M&A expert Johannes Trenkwalder, a partner at CMS in Vienna, headed the international CMS team, which also included Oliver Werner (attorney-at-law, M&A), Dieter Zandler (attorney-at-law) and Aakriti Chandihok (associate).
Transcom WorldWide S.A., a customer care outsourcing company, was founded in Sweden in 1995. Today it operates from 57 locations in Europe, North and South America, Asia and Africa. Transcom’s management offices are located in Stockholm, Sweden. The company currently employs about 29,000 people. Net revenue in 2013 amounted to EUR 653.2 million.
Transcom Austria was founded in Vienna in 1998 to attract Austrian clients for customer relationship management services such as telephone and credit management services. In 2007, Transcom acquired the international IS Inkasso Service Group, Austria’s market leader in debt collection with subsidiaries in Germany, Switzerland, Slovenia and Croatia. In 2008, the Czech subsidiary in Prague was merged with Transcom’s Czech location.
The IS Inkasso Service Group serves its markets from three locations in Austria and one in Switzerland. About 100 employees offer Transcom customer management services to Austrian and international clients.