Tue, 23 Nov 2010 | BUSINESS NEWS
Debt collection agency Credit Solutions has been acquired by global business outsourcing partner arvato in a deal worth £10 million.
One of the main reasons behind the acquisition was arvato's desire to accelerate its growth in certain sectors in which Credit Solutions had 'achieved strong penetration.' These include telecoms, utilities and financial services, amongst others.
Credit Solutions offers debt collection and management services and counts eight of the country's top financial services firms amongst its clients.
President of international finance at arvato, Andrea Kaminski, said, "Credit Solutions is a well-established, successful and highly reputable player in the credit services market, with an exciting portfolio of capabilities and customers."
The acquisition is also tipped to strengthen arvato's UK outsourcing capabilities, covering such areas as supply chain management and customer management. arvato has announced that it will integrate Credit Solutions into its existing finance services arm.
Will Pierce, chief executive of Credit Solutions, said, "This is the best outcome for our customers, our people and our shareholders. Becoming part of a large successful, multi-national and multi-service company like arvato provides significant opportunities for growth.
"This is the start of an exciting new chapter as part of the arvato family," he added.
An opportunity exists to purchase the business and assets of a recruitment business operating in the south of England. The business specialises in both temporary and permanent candidate placement in education roles.
An opportunity exists to purchase the business and assets of a leading provider of traffic management solutions operating across the UK highways network.
An opportunity exists to purchase the business and assets of a television production company. The company has an established track record in the production of drama/ documentaries and colourised archive series.
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