Nordic Business Report-March 30, 2006-Transcom WorldWide SA acquires Credit & Business Services Limited
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The Stockholm-listed international customer relationship solutions and services provider Transcom WorldWide SA said on Wednesday (29 March) that it has acquired United Kingdom based debt collection agency Credit & Business Services Limited.
The purchase consideration comprises a fixed cash payment of GBP2.25m and a performance-based earn-out of an additional GBP2.25m.
Credit & Business Services, based in St Albans, operates on a commission collection basis. It has 45 employees and reported revenues of GBP3.3m in 2005.
"This deal further strengthens the position of our rapidly growing collections business and gives us a foothold in the largest market in Europe," commented Keith Russell, President and CEO of Transcom WorldWide.
"The acquisition is in line with our margin enhancement strategy and we look forward to expanding our collections services to new and important clients in this key market," Russell added.
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