EOS Group Enters French Market with Acquisition

EOS Group (www.eos-solutions.com), an Otto Group company, acquired 100 per cent of the shares in the French company Credirec and thereby entered the French market.

Hans-Werner Scherer, Chairman of the Board of Directors of the EOS Group comments: ‘France is the second largest economy in Europe. We had been looking for an appropriate local partner for quite some time. With Credirec, we have now found the perfect fit.’

Credirec is the market leader on the French debt purchase market and belongs to the top ten in the field of debt collection. The company focuses on receivables management in the consumer segment. Credirec mainly works for credit institutions, automotive credit companies and utilities.

Mr. Scherer said,  ‘Since Credirec was founded in 1993 it has kept all won customers. This shows that we have found a solid and successful partner that will support the growth of the EOS Group.’

EOS is taking over all 240 employees of Credirec working at the company’s sites in Paris, Nantes and Pau. Also as regards the management, EOS is putting its trust in continuity. Current CEO Nathalie Laymeyre will continue to lead the company. She noted, ‘We are happy to have found a partner, sharing the same values and quality standards. I am convinced that we will profit from the international know-how of our new colleagues and the financially strong background of the EOS Group.’

The EOS Group, a company of the Otto Group, is a leading international provider of tailor-made services covering the entire life cycle of a customer relationship – from customer acquisition to electronic payment processing, debt collection and debt purchasing. The core business is receivables management. EOS is committed to high standards of debt collection to protect creditors and consumers. With over 5,000 employees, EOS serves its 20,000 customers in more than 20 countries worldwide through over 40 subsidiaries.