BROOKFIELD, Wis. - Payco American Corp., a major provider of collections and other receivables-management services, has acquired certain assets of Continental Credit Adjustors Inc., a Houston-based debt collection agency.

Payco said the acquisition strengthens its presence in Texas while giving the Continental organization resources to grow.

The latter has 63 employees and gets a majority of its $2.5 million in annual revenue from the health care market. Payco employs 3,300 nationwide, has joint ventures in Japan and Mexico, and had 1994 revenue of $151 million.

Continental president Charles D. Bertrand will continue to manage the Houston business.

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