Under the merger plan of the two listed debt management companies, BEST S.A. will acquire the assets of Kredyt Inkaso S.A. in exchange for newly issued shares. Kredyt Inkaso S.A. shareholders will receive merger shares at an exchange ratio of 0.67537 BEST shares for each Kredyt Inkaso share. Following the merger, the anticipated composition of BEST S.A.’s management board will include Krzysztof Borusowski, Marek Kucner, Agnieszka Pakos, and Mariusz Gryglicki, while key managerial positions within the Group will be held by long-standing associates from both merging companies.

Under the merger plan adopted by the management boards of both companies, the merger will be executed through the transfer of all assets of Kredyt Inkaso S.A. to BEST S.A. in exchange for shares in the acquiring company. This transfer will take effect on the date the merger is registered in the National Court Register. The newly issued shares will represent 20.5% of BEST S.A.’s increased share capital. The share exchange ratio has been set at 0.67537 BEST S.A. shares for each Kredyt Inkaso S.A. share, with an additional cash payment to the acquired company’s shareholders to compensate for fractional shares.

The plan of merger between BEST S.A. and Kredyt Inkaso S.A. will be put to a vote during the General Meetings of both Companies to be convened in the near future.

– We stand at the threshold of an exciting new chapter in the history of BEST and Kredyt Inkaso. By merging the strengths of both companies, we are unlocking new business opportunities and creating a foundation for long-term shareholder value and further growth. The combined expertise, human capital, and technology of these two leading debt management firms will drive the dynamic expansion of BEST Group. But we are not stopping there. Our vision is built on advanced technologies—’BEST 3.0′ represents the future of fintech in the debt collection industry. We are already investing in artificial intelligence, cloud migration, and big data analytics. These innovations will amplify the potential of both companies, positioning us as the undisputed second-largest player in the Polish debt market and a significant force in Europe, says Krzysztof Borusowski, President of the Management Board and main shareholder of BEST S.A.

– The estimated equity of the merged companies will exceed PLN 1 billion. We are confident that this merger will create an entity that is not only a strong and attractive business partner for banks and bond investors but also one of the top employers in the European debt recovery industry. It will offer both compelling growth opportunities and the chance to be part of a truly exceptional venture, adds Marek Kucner, Vice-President of the Management Board of BEST S.A.

– A positive decision by the general meetings of both companies on the merger will mark the beginning of a new chapter in the Polish debt management market. We are confident that the strong position of the organization we have supported over the past nine years will play a key role in this transformation. As part of the newly formed, stronger BEST Group, we—along with other shareholders, including minority shareholders—will have the opportunity to further participate in the growth of the debt recovery market in Poland and the region, benefiting all its stakeholders, says Tomasz Karpiński, Investment Director at Waterland’s Warsaw office.

Krzysztof Borusowski also announced that, in exercising his statutory powers as president of the management board, he will propose to the Supervisory Board to appoint Agnieszka Pakos and Mariusz Gryglicki to the management board of BEST S.A. As a result, the planned management board of the merged entity will be composed of: Krzysztof Borusowski and Marek Kucner, the founders of the Gdynia-based company, who have been leading it for more than 20 years as president and vice-president respectively, and Agnieszka Pakos and Mariusz Gryglicki.

Agnieszka Pakos has been with BEST S.A. for nearly 20 years, bringing extensive experience in process implementation and development. She initially oversaw the establishment and management of the internal audit function at BEST S.A. and BEST TFI S.A. In 2020, she became Director of the Risk Management and Compliance Division. Since September 2023, she has combined her role as Director of the Digital Transformation Programme with that of Head of the PMO. In managing the project portfolio, she supports BEST Group in achieving its strategic objectives by ensuring projects align with the organisation’s needs and resources are used efficiently. As Director of the Digital Transformation Programme, she directly oversees initiatives aimed at enhancing BEST’s operational efficiency.

A graduate of the Faculty of Management at the University of Gdańsk, she earned her CIA (Certified Internal Auditor) diploma in 2012. As a member of the management board of the merged companies, she will continue to lead the Digital Transformation Programme and other strategic projects (PMO). Additionally, she will oversee compliance, security, internal audit, and administration.

Mariusz Gryglicki began his career in the financial sector in 2004 in the Collections Department at GE Capital Bank. In the following years, he focused on process optimization using the Lean Six Sigma methodology and was part of the project team for the merger with Bank BPH S.A. From 2010 to 2020, he worked at BEST S.A., serving as Chief Operating Officer, where he led the Operations area through major process, cultural, and technological transformations. In his last three years at BEST S.A., he was responsible for cooperation with counterparties, debt collection strategy, and building the Operations team in the Italian market from the ground up. In 2020, he joined Kredyt Inkaso S.A., initially overseeing debt collection strategies and operational transformation in CEE markets. Currently, as Managing Director, he leads debt collection operations in Poland and abroad and serves on the management boards of Kredyt Inkaso companies in Romania, Bulgaria, and Croatia.

A graduate of the Faculty of Economics at the University of Gdańsk, he also completed Executive MBA studies at the University of Warsaw. As a member of the management board of the merged companies, he will be responsible for overseeing operational divisions in Poland and abroad.

Following the merger, the managerial team will consist of long-term associates from both companies.
– In recent months, my conviction has only strengthened that the true value of BEST S.A. and Kredyt Inkaso lies in their people. I look forward to embarking on this journey together, striving for the business success of our new organisation while finding great satisfaction along the way, adds Krzysztof Borusowski.

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Information on BEST S.A.

BEST Capital Group is one of the largest debt collection companies in Poland, and it invests actively in portfolios of non-performing debts using investment funds. BEST S.A. has been listed at the Warsaw Stock Exchange (GPW) since 1997.

BEST, as a member and co-founder of the Association of Financial Companies in Poland, and a co-founder and moderator of the Good Debt Collection Practice actively contributes to the development and shaping of the claims market in Poland.

For more information, visit www.best.com.pl or contact us: