Do Value consults its legal counsel for the purchase of Coeo Group
doValue S.pA. Expands into Digital Services with Acquisition of COEO Group
doValue S.pA., an Italian company specialising in the management of non-performing loans (NPLs), has taken a transformative step towards becoming a pan-European, technology-driven credit management platform with the acquisition of COEO Group GmbH. The acquisition, valued at €350 million initially with a potential €40 million earn-out by 2028, was financed through a €325 million bridge-to-bond facility and underwritten by a syndicate of international banks.
The acquisition allows doValue to enter high-growth sectors such as Buy Now Pay Later (BNPL) and e-commerce, expanding its geographic footprint into Continental and Northern Europe. By integrating COEO’s digital, AI-based capabilities, doValue aims to enhance its resilience against economic cycles and generate more stable, recurring revenue streams.
COEO Group, operating in eight countries and managing over 7 million credit files annually, brings a diverse client base to doValue, including multinational blue-chip companies in fast-growing new verticals. With longstanding relationships with blue-chip clients across various sectors like e-commerce, BNPL, payments, telecommunications, parking management, energy, and others, doValue is well-positioned to capitalise on this growth.
The acquisition is a strategic move in doValue's 2024-2026 Business Plan, marking a shift away from its core business of bad loan management. This move aligns with market trends favouring digital, asset-light business models and positions doValue at the forefront of this shift.
Global law firm White & Case LLP advised doValue S.pA. on the acquisition, with a team led by Michael Immordino, Leonardo Graffi, Stefan Bressler, Tobias Zuendorf, Mariasole Maschio, Francesco Barcellini, Maximilian Eichhorn, Enno Miedtank, Orion Berg, Thilo Wienke, Louis Roussier, Giuseppe Tantulli, Thaiane Abreu, Henning Berger, David Schoo, and Cora Wolff. The team provided mergers and acquisitions, corporate, FDI, antitrust, and financial services regulatory advice. Tax expertise was provided by partner Bodo Bender (Frankfurt) and local partner Alisa Preissler (Frankfurt).
With this acquisition, doValue is poised to enhance its position in the digital services sector, leveraging COEO's technology to drive growth and innovation in the credit management industry.
- The acquisition of COEO Group by doValue S.pA. positions the Italian company to transition from a traditional NPL manager to a pan-European, technology-driven credit management platform in the digital services sector.
- With the purchase of COEO Group, doValue gains entry into high-growth sectors such as Buy Now Pay Later (BNPL) and e-commerce, broadening its geographical reach into Continental and Northern Europe.
- The integration of COEO’s digital, AI-based capabilities aims to make doValue more resilient to economic cycles and generate more consistent, recurring revenue streams.
- The diverse client base of COEO Group, including multinational blue-chip companies in fast-growing new verticals, brings significant opportunities for doValue to capitalize on growth.
- doValue's acquisition of COEO Group is a strategic move in line with market trends favoring digital, asset-light business models, as indicated in doValue's 2024-2026 Business Plan.
- White & Case LLP, a global law firm, advised doValue on the acquisition, providing expertise in mergers and acquisitions, corporate law, FDI, antitrust, financial services regulation, and tax matters.
- The partnership between doValue and White & Case LLP ensures compliance with regulatory requirements and support for the new venture in the digital services sector.
- With its enhanced capabilities and expanded market presence, doValue aims to become a leading player in the credit management industry through innovation and growth driven by COEO's technology.
- As doValue pursues its strategic shift away from bad loan management towards digital services, the acquisition of COEO Group sets the stage for further acquisitions and investments in the corporate, finance, and capital markets sectors.
- The news of doValue's acquisition of COEO Group marks an exciting chapter for both companies, as they collaborate to push the boundaries of innovation and drive growth in the digital services landscape.
