Arrow Global Expands in Portugal with more than $1.3 billion in Portfolio Purchases

Arrow Global Group PLC, one of Europe’s largest and fastest growing providers of debt purchase and receivables management solutions, announced Monday that it has acquired three portfolios from Portuguese clients with a face value of about €1 billion ($1.37 billion) for €78 million ($106.5 million).

The three portfolio purchases represent a significant expansion of Arrow Global’s Portuguese business which now has a total face value of more than €2 billion ($2.7 billion). This increased scale and franchise footprint represents a material step forward for Arrow Global’s European business.

The latest deals have come from both international and domestic Portuguese banks and have come from both existing and new Arrow Global clients. The purchases are further evidence of an increasing propensity to sell by European banks.

Tom Drury, chief executive officer of Arrow Global commented, “We are delighted to announce these strategically important purchases, which strengthen our leading position in Portugal and reinforce our European growth strategy. Importantly, they demonstrate the strength of our brand in European markets, something which is key to our continued growth. Although two of these portfolio purchases were initially expected in Q3, we have been able to complete them in Q2 and at a larger size. As a result, we now expect our full year purchases to be ahead of our previous expectations, laying a strong foundation for earnings growth in future years.”

Arrow Global is one of Europe’s largest and fastest growing providers of debt purchase and receivables management solutions with £11 billion of receivables under management measured by face value. The group manages over five million customer accounts and has experience of working with student loans. Arrow Global is fully committed to working with customers to ensure that wherever possible each loan is serviced in accordance with that customer’s personal circumstances. Through directorships on industry bodies such as the Credit Services Association and the Debt Buyers and Sellers Group, the executive team plays a key role in initiating, shaping and implementing industry compliance standards and programmes. In October 2013, Arrow Global listed on the London Stock Exchange (ARW). For further information about the company visit, www.arrowglobal.net