Credit Solutions Acquired by Arvato for £10m

In the end of November, Credit Solutions, UK-based debt collection agency, has been acquired by Arvato, global outsourcing partner. The deal totaled to £10 million and was aimed at increase of Arvato's presence on the UK market.

The company already owns firms that include outsourcing customer management, financial services, supply chain management, etc. Now, with th acquisition of Credit Solutions, Arvato will be able to strengthen its positions on British debt collectors' market. On top of that, Credit Solutions, which also worked in such sectors as telecoms and utilities, will broaden the scope of activities for Arvato.

Commenting on the acquisition, Mr. Pierce of Credit Solutions, said that "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."

Mr. Mierish of Arvato, in his turn, said that “the acquisition adds critical mass in several core vertical sectors including financial services, telecoms, utilities, and particularly in the public sector where we are keen to continue growing our presence.”