Useful historical data
EOS and Servdebt have worked together since 2012 in international debt collection. Initially, the Portuguese took over only cross-border fiduciary cases affecting customers residing in Portugal. With the debt purchase, EOS now benefits from a further core competence of its partner. ‘We are market leader in the acquisition and processing of defaulting loans in Portugal. Currently, we manage approximately 3.5 billion euros,’ says Bruno Carneiro, Chief Executive Officer (CEO) of Servdebt, who founded the company in 2007.
Servdebt has extensive knowledge of its home market, which is very useful, for example, for price calculations that precede the purchase of a portfolio. ‘Given its experience with debt purchase, the company can draw on extensive historical data on Portuguese customers,’ says Mr Cohrs. This facilitates the assessment of future recovery success. Communication between experts at Servdebt and EOS further contributes to success. ‘Our analysts have consulted closely with the central Risk Management of EOS in Germany,’ reported Mr Carneiro. Together, the partners set a price with which Servdebt entered the race and won the contract. ‘The amount of the bid was certainly crucial. On top of that, Servdebt has an excellent reputation in Portugal and worked in the past with the seller,’ says Mr Cohrs.