NORTH acquires Bankbrokers in DK, SE, and NO.

NORTH's first international expansion

NORTH (now Howden), which is Denmark's first independent advisory firm in business insurance, company pensions, financial procurement, and real estate credit, has acquired the advisory firm Bankbrokers' Scandinavian business. With the acquisition, NORTH is moving outside Denmark for the first time and expanding internationally to better meet customers' needs for financial agreements across borders. The parties have agreed not to disclose the purchase price of the deal, which will take effect at the beginning of the new year.

Bankbrokers was launched in Stockholm in 2008 and has built a strong international business with headquarters in Oslo. They are now present in eight countries and are selling their business in Norway, Sweden, and Denmark to NORTH, while the rest of Bankbrokers will continue under the existing brand. Bankbrokers advise companies in Scandinavia who want to achieve better financial solutions and reduce their costs for banking services, optimize their payment solutions, or receive advice on debt financing.

"We have made a strategic acquisition in a business area where we are already the largest in Denmark, and which at the same time gives us a significant presence in Norway and Sweden. There is a very large potential in improving the financial agreements and services of the business sector, where financial products are already international today. With Bankbrokers' Scandinavian business, we strengthen the value proposition and advice to the many Nordic companies with activities across borders."  siger Group CEO Lars Gundorph, NORTH. 

Bankbrokers generates approximately DKK 25 million and employs a total of 17 employees, with nine in Norway, five in Sweden, and three in Denmark, all of whom are offered to continue as part of Financial Procurement at NORTH.

"We have chosen to sell our Scandinavian business to NORTH, which is a successful and ambitious player with plans to expand and strengthen their presence in Scandinavia. Our Scandinavian organization fits perfectly with their ambitions to establish a platform for growth outside of Denmark."  siger Group CEO Trond Tidemann, Bankbrokers. 

NORTH is the market leader in Denmark in independent financial advice and has gathered 15 specialists in Financial Procurement within financial products including payment solutions, types of payments, financing, loans, currency exchange, financial contracts, leasing, cash management, and mortgage financing. Financial Procurement has had strong development and has grown by over 50% in the past year.

NORTH Financial Procurement has advised more than 200 Danish companies and organizations, for example, improving their bank collaborations, assessing and optimizing their online and physical payment solutions, or optimizing working capital with new factoring products in order to release capital for investment.

NORTH was established in April 2021 and has since consolidated the industry through the acquisition of around 20 companies. NORTH now has 250 employees and aims to set a new standard for financial advice and create security in companies' decisions through 360-degree risk advisory and widespread use of digital tools.

NORTH offers advice to private and public companies either as an independent mediator or through a cost-effective agency model based on industry agreements, ensuring smaller companies good deals at attractive prices.