NORFOLK, Va., July 16, 2024
/PRNewswire/ -- Today, PRA Group, Inc. (Nasdaq: PRAA), a global
leader in acquiring and collecting nonperforming loans, celebrates
10 years since acquiring Aktiv Kapital AS, a business that had been
prominent in the same industry throughout Europe and Canada. As such, the milestone marked the
start of significant global expansion for PRA Group.
The anniversary festivities commenced with a reception in PRA
Group's offices in London, during
which members of PRA Group's Board of Directors and senior leaders
who were involved in both sides of the acquisition shared their
stories. Their perspectives were illustrative not only of the
company's history, but also of its evolution into the global
enterprise PRA Group has grown to become.
PRA Group President and CEO Vik
Atal reflected, "What I have seen over time on the board and
leading the company, is that we no longer think of these as
separate businesses—a signal that we've all come together. We are
now at the next stage of leveraging our globality by sustaining and
building upon our geographic differentiation and
collaboration."
Celebrations of the 10-year milestone continued throughout the
summer across other offices in Europe and North
America that joined PRA Group with the acquisition,
including those in Austria and
Spain.
"One of the things I am most proud of is how well we integrated
the two companies, not only by sharing knowledge, but also by
leveraging the incredible talent PRA Group gained in 2014," said
Chair of the Board Steve Fredrickson, one of PRA Group's
co-founders. "That talent continues to be an asset to our teams,
not to mention our global leadership."
"Part of why the match worked so well is that both companies
took a long-term approach to doing business," said President of PRA
Group Europe Martin Sjölund, who was head of strategy and corporate
development for Aktiv Kapital at the time of the acquisition. "Not
only has the geographic diversity afforded by the acquisition
provided balance for a cyclical business; it has also unlocked
incredible career paths and opportunities for innovation on a
global scale."
PRA Group Board Director Geir
Olsen, who, 10 years ago, was CEO of Aktiv Kapital, added:
"Remarkably, more than one third of the colleagues who joined PRA
Group through the acquisition remain a part of the company to this
day. That speaks volumes to the strength and unity of our culture
worldwide."
In expanding its operations in Europe and North
America, PRA Group gained teams in Austria, Canada, Finland, Germany, Norway, Spain, Sweden, Switzerland and the U.K. in July of 2014.
A decade since acquiring Aktiv Kapital, PRA Group has continued
building upon its geographic diversity through additional
acquisitions and office openings in Europe, South
America and, most recently, Australia. Today, PRA Group employs more than
3,000 individuals and has portfolio operations in 18 countries.
About PRA Group
As a global leader in acquiring and collecting nonperforming loans,
PRA Group, Inc. returns capital to banks and other creditors to
help expand financial services for consumers in the Americas,
Europe and Australia. With thousands of employees
worldwide, PRA Group, Inc. companies collaborate with customers to
help them resolve their debt. For more information, please visit
www.pragroup.com.
News Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 641-0558
Elizabeth.Kersey@PRAGroup.com
Investor Contact:
Najim Mostamand, CFA
Vice President, Investor Relations
(757) 431-7913
IR@PRAGroup.com
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