CRIF , a global company specializing in credit bureau and business information, and advanced digital solutions for business development and open bank – announced the acquisition of ICAP – one of the largest B2B services groups in Greece, with a strong presence in Romania, Bulgaria and Cyprus.
ICAP was founded in 1964 and in 2007 the South Eastern Europe Fund, of the Global Finance, acquired a majority stake, with Coface , one of the largest credit insurance companies providing business information in the world, and the management team as well participate in the acquisition.
“At ICAP we saw an opportunity to invest in a well-known Greek company to accelerate organic growth and develop the company into a regional leader. During our ownership, ICAP became the leading Business Information and Credit Risk Solutions company in Greece, Romania, Bulgaria and Cyprus.Together with the management team, we have created a strong company and I am sure that it will continue to grow under the leadership of CRIF “, said Michalis Madianos, Partner at Global Finance.
“We are extremely happy to be a member of CRIF, a global leader in Credit Risk Solutions. I firmly believe that ICAP fits in perfectly with CRIF and together we will accelerate the sustainable development of ICAP in Greece, Romania, Bulgaria and Cyprus. In addition, the fact that ICAP is now a CRIF company, will be very beneficial for our customers, as they will have access to advanced CRIF solutions and our people, who will have better career prospects “commented Nikitas Konstandellos, President and CEO of ICAP.
“We are pleased to announce the acquisition of the leading business intelligence provider in South East Europe, which will allow CRIF to consolidate its presence in the region. Both CRIF and ICAP are fully focused on providing solutions capable of minimizing portfolio losses, maximizing returns and helping our customers grow in the long run.Through this acquisition, CRIF will combine its know-how and innovative solutions with ICAP’s market knowledge and value-added services, helping both our local companies and our global customers continue to grow and innovate, ” said Carlo Gherardi, CRIF President.