arvato, a global business outsourcing partner, has acquired the UK based provider of debt recovery and management services, Credit Solutions, from ISIS Equity Partners, for a cash consideration of £10m.
arvato said that this acquisition will strengthens its BPO capabilities in the UK, which already include outsourced customer management, supply chain management and finance services to the UK private and public sectors.
The acquisition is also expected to accelerate its growth in several key sectors where Credit Solutions has achieved strong penetration. These include financial services, telecoms, utilities and the public sector, incorporating central government, a long-term strategic focus for arvato following its entry into the local government outsourcing market in 2005.
Established 20 years ago, Credit Solutions provides a range of integrated telephone- and field-based debt collection and management services, working on live and closed accounts from early arrears to later stage debt recovery.
Following the acquisition, Credit Solutions will be integrated into arvato’s existing finance services offering under the supervision of Andrea Kaminski, president, international finance, arvato. The company already provides billing, credit and collections, accounting and payment processing services and consulting services to a range of clients.
arvato UK & Ireland chairman and CEO Matthias Mierisch said the acquisition adds critical mass in several core vertical sectors including financial services, telecoms, utilities, and particularly in the public sector where arvato is keen to continue growing its presence following three successful public private partnership agreements.
"This in turn provides new opportunities to leverage our full BPO capabilities on a UK and international scale. It is an important step in our strategic journey to becoming one of the most respected business outsourcing partners in the UK & Ireland, and a signal of our appetite for continued growth,"Mierisch said.