Echo Managed Services, the specialist provider of outsourced end-to-end customer contact services, has strengthened its collections division with the acquisition of Sheffield-based Grosvenor Services Group. Grosvenor is one of the UK’s leading debt collection agencies, specialising in field-based collections within the utilities sector.
Combining Grosvenor’s field based skills with Echo’s comprehensive multi-site contact centre resource and office based collections expertise will further strengthen Echo’s end-to-end customer contact proposition, with the company offering comprehensive customer journey support, from initial sign-up through to ongoing debt recovery where necessary. The acquisition of Grosvenor Services Group follows Echo’s 2011 purchase of London based Inter-Credit International – one of the UK’s longest established debt recovery agencies with over 40 years’ experience and speciality in office based collections.
Acquiring Grosvenor Services Group is a great strategic move for Echo as we have complementary skills and expertise, particularly in key sectors such as utilities and the public sector that are central to Echo’s expansion plans,” commented Steve Wrench, Operations Director at Echo. “Echo already bills and collects many millions of pounds for utility and public sector clients each year, and the addition of Grosvenor’s proven debt recovery and debtor tracing solutions – backed by its strong field-based collections resource – will further strengthen our operation.
Echo’s Managing Director, Nigel Baker added: “We have an on-going commitment to provide our clients with a best practice approach to collections – one that not only delivers better results for our clients but also ensures full compliance with key industry regulatory and governance requirements. With the specialist skills and expertise that the Grosvenor team brings, we look forward to further strengthening Echo’s collections capability.”
Echo’s leading edge collections strategy is based on a powerful data-driven approach that focuses on helping organisations to choose the right solution for the right customer at the right time. Echo is focused on ensuring that it consistently delivers on collections targets for its clients, while always treating their customers fairly with empathy and understanding. Following the acquisition, Grosvenor’s Sheffield-based operation becomes Echo’s seventh site.
Commenting on the acquisition, Lloyd Birkhead, MD of Grosvenor Services Group Ltd said: “at Grosvenor we’ve built a reputation over the last 17 years for providing our customers, particularly those in the utilities sector, with a high quality debt recovery service. I’m therefore delighted that in Echo Managed Services we move forward with a complementary business partner that will build on our success by integrating Grosvenor and our services into its end-to-end customer contact proposition.”
Assistance for the acquisition was provided by FDYL LLP and Ironmonger Curtis LLP.