LFS Financial Systems GmbH (LFS) announces a significant change of its business activities and set-up.
Effective 1 January 2018. LFS has spun off the business divisions that were previously involved in the management of AccessHolding and its network banks, and brought them into AccessHolding. In exchange for this resource transfer, LFS receives an additional equity stake in AccessHolding. As a result, the transaction constitutes a partial merger between the two companies. LFS continues to provide consulting and management services through its remaining business lines.
Mr Dan Balke, Managing Director and a Partner at LFS, commented on the occasion: “Having founded AccessHolding in 2006, LFS is proud to endow the company with the resources to embark on its own trajectory after the spin-off. We wish our former colleagues the utmost success in delivering financial services with a developmental impact. LFS looks forward to continuing to deliver value and innovation to our existing and new clients worldwide. As part of this strategic transition, we have increased our array of services in exciting fields such as digital finance, agricultural finance as well as transaction services for impact investors.”
The newly appointed members of the Management Board of AccessHolding, Dr Bernd Zattler and Mr Thomas Engelhardt, added: “This was an anticipated and logical step in the development of AccessHolding, which has evolved over the past 12 years under the outstanding management of LFS into a leading player in the field of small business finance with substantial geographical footprint. With this change coming into force, the internal management processes between the Holding and its investees will be simplified and gain efficiency. We are very grateful to all staff for their many years of hard work and dedication to the benefit of both companies.”