Published: April 27, 2011
PE firm adds debt collector to portfolio.
Emerging Europe private equity firm Horizon Capital has bought a stake in UkrFinance, a Ukrainian debt purchasing and collection agency.
Horizon, which focuses on opportunities in Ukraine, Belarus and Moldova, has taken what it describes as a “substantial” shareholding in the company, which includes banks, insurers, utilities and telecom companies among its clients.
The financial terms of the deal, funded by the firm’s Emerging Europe Growth Fund II, have not been disclosed.
UkrFinance’s chief executive, Christian Schuller, described Horizon as a long-term investor and said that its support will let the firm continue to develop its operations.
UkrFinance joins a portfolio of financial services businesses that includes Platinum Bank and insurance companies Universalna and Fidem Life in Ukraine as well as MTBank in Belarus and Fincombank in Moldova.
This is Horizon’s second deal this year after it took a stake in a Ukrainian company that produces wine under the Inkerman brand.