Intrum Justitia has acquired Profidebt s.r.o. for €31m to strengthen its purchased debt and credit management businesses in the Czech Republic.

Profidebt purchases and recovers mature debts from financial institutions. It has ~70 employees which will be integrated with Intrum Justitia’s Czech unit of ~30 employees.

The purchase includes Profidebt’s existing purchased debt portfolios and cash generated from forward flow contracts.

The acquisition was consolidated from February 2014.