BIIA Member CRIF has acquired a majority share in Recom, a company operating in the receivables management and collection sectors in Turkey.
Established by Selim Tezel, a senior executive in the finance sector, Recom is one of Turkey’s leading players in the market. Recom, whose main activity is professional receivables management, has been helping organizations manage their receivables more efficiently since 2012.
CRIF will retain Recom’s current managerial staff to carry on its activities. “By acquiring Recom, CRIF will be able to offer value-added services to the Turkish market and provide a comprehensive offering to our customers by combining the company’s international experience with the specialization of local organizations,” said Carlo Gherardi, CEO of CRIF, during his speech delivered at the signing ceremony.
After underlining the fact that Turkey is an emerging country with a high rate of growth and business potential, Gherardi added, “In parallel with our global investment strategies, we place great importance on collaboration with local organizations to expand our range of services in the countries we operate in. CRIF already offers receivables management and collection services in other countries, and we decided to partner with Recom in order to provide total life cycle solutions to our customers in Turkey. CRIF’s integration with Finar, D&B Turkey and Kompass Turkey over the past year has been a crucial step towards growth in the global market. Thanks to the synergy between the four companies generated by the acquisition of Recom we can now offer our customers both in Turkey and globally high value-added risk assessment solutions and enable them to improve their profitability through our range of products and services offered in every phase of the credit life cycle.”
This is the third acquisition of CRIF in Turkey. It had acquired Finar, D&B Turkey and Kompass Turkey last year. CRIF has now started to offer receivables management services through the incorporation of Recom.
Source: CRIF Press Release
