Crédit Agricole Leasing & Factoring

Press release

Crédit Agricole Leasing & Factoring acquires Olinn from Argos Wityu, in order to develop its offer for professional equipment management services

Montrouge, 09-November-2021 – Crédit Agricole Leasing & Factoring (CAL & F) today announces the acquisition of the Olinn group. This transaction reinforces Crédit Agricole’s universal and customer-centric retail banking model by completing the range of solutions and services that the Group offers to its corporate customers. This acquisition also demonstrates the Group’s desire to promote the development of a circular economy.

Olinn, a European group specializing in professional equipment management, offers a wide range of financing solutions, and has developed expertise in associated services, such as fleet management, reconditioning and equipment resale. Since its creation, Olinn has financed more than 2 billion euros in equipment, both in the IT and telecommunications sector, and in rolling stock equipment. Olinn is a long-term partner of Crédit Agricole Leasing & Factoring, which refinances nearly 20% of the equipment offered by Olinn to its customers.

By acquiring Olinn, Crédit Agricole Leasing & Factoring is extending its range of offers to Crédit Agricole Group customers with an equipment financing and management solution, which covers the entire equipment life cycle.

CAL & F will thus fully internalize the value chain, with a unique concept: 1 contact, 1 contract, 1 invoice. By offering its customers the management of end-of-life equipment, CAL & F is part of a resolutely CSR approach.

Given the strong potential for synergies, this transaction, which will create significant value for CAL & F, should generate a return on investment of more than 10% by 2025, in line with the Group’s policy.

The signature of the share transfer contract takes place today, after consultation with the employee representative bodies, and is subject to the approval of the regulatory and competition authorities. The transaction is expected to close at the end of 2021.

Hervé Varillon, Chief Executive Officer of Crédit Agricole Leasing & Factoring, declares: “Today we are carrying out an important transaction for Crédit Agricole Leasing & Factoring. It allows us to complete our range of services in order to meet the new requirements of our customers in terms of the use of equipment. The acquisition of Olinn is part of the Crédit Agricole group’s development strategy presented in the 2022 medium-term plan and strengthens Crédit Agricole Leasing & Factoring’s ambition to be one of the European leaders in leasing , factoring and renewable energies. We aim to be a leading player in our markets in France and internationally. “

Karel Kroupa, Managing Partner France of Argos Wityu adds: “Arnaud Deymier and the Olinn teams have done a remarkable job to accelerate the significant growth of the group by expanding the range of offers and strengthening the brand image. We are convinced that the future under the aegis of Crédit Agricole Leasing & Factoring will allow Olinn to continue its expansion.

About the Olinn group:

Olinn is a European group that supports its clients on a daily basis in their rental investment projects and the technical management of their IT, mobile, medical, industrial and vehicle equipment.
Olinn is a collective of 200 employees, 60 of whom are disabled. The company achieved a turnover of 175 million euros in 2020. The group is present in 7 European countries with a network of 18 sites covering France, Switzerland, Belgium, Luxembourg, Germany, ‘Italy and Spain. Nearly 4,500 customers currently use the group’s full services.
Each year, Olinn manages:
• 500 million euros of assets (IT, Mobile, Medical, Industrial and Vehicle), and already more than 2 billion euros of equipment financed,
• 180,000 smartphones, 4,500 vehicles,
• 250,000 IT equipment reconditioned per year, saving 31Mkg of greenhouse gases.

About Crédit Agricole Leasing & Factoring

Present in 9 countries in Europe and the Maghreb, Crédit Agricole Leasing & Factoring (CAL & F) is a major player in leasing, factoring and financing of energies and territories in France and in Europe. CAL & F offers specialized financing for companies, professionals, farmers and local communities.

Key figures at the end of 2020: 225,000 customers, 2,477 employees and 22.5 billion euros in loans financed.

Press contact:

Thibaud Thurier-Chatain: +33 6 85 32 81 29 – [email protected]

Adeline Tardif: +33 6 14 98 12 66 – [email protected]

  • 20211109 Crédit Agricole Leasing Factoring acquires Olinn from Argos Wityu

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