Kruk looking for acquisitions

In an attempt to increase its share capital, the Polish company Kruk, which specialises in debt collection, is planning to acquire small and medium-sized companies over the next year.  “Kruk is building an organization in Western Europe of debt and liquidity management, and prefers to finance the purchase of debt collection companies with equity,” said a company statement in a press release on Wednesday. The capital increase, which will amount to a raise of 5.6 percent, will occur on November 29 of this year. It is expected to take place in private, without majority shareholders voting on the move. Founded by a Polish bankruptcy lawyer in 1998, and a public company since 2011, Kruk has been buying up non-performing bank loans as it gradually expands its service across Europe.