Michael oversees all types of M&A and related advisory assignments, including buy-side and sell-side representation, joint venture/strategic partnership arrangements, valuations and operational assessments. He also has extensive experience assisting clients recruit executive talent, and develop and implement strategic growth plans. Michael’s primary area of expertise is in the outsourced business services arena, specifically lower middle market companies that offer debt collection, debt purchasing, revenue cycle management, medical billing, customer relationship management and market research services. During his tenure with Kaulkin Ginsberg, Michael has advised numerous M&A transactions and valuation-related advisory engagements. Selected announced M&A transactions include: • Advised Pinnacle Financial Group in its sale to National Asset Recovery Services, a H.I.G. Capital portfolio company • Advised ROI Companies in its acquisition of ARC Group Associates • Advised Northland Group in its sale to Mason Wells • Advised Nor-Don Collection Network, a portfolio company of Priveq and GrowthWorks, its sale to management • Advised National Credit Systems in its acquisition of Rapid Collection Systems • Advised Mutual Hospital Services in its merger with Kadent • Advised Account Solutions Group in its sale to FirstSource Solutions • Advised Greystone Alliance in its acquisition of Elite Recovery Services • Advised Financial Asset Management Systems in its sale to American Capital Strategies (NASDAQ: ACAS) • Advised MCS Receivables Management in its sale to the Outsource Group • Advised Risk Management Alternatives in its sale to NCO Group • Advised Vertex Customer Management, a former division of United Utilities (NYSE:UU) in its acquisition of First Revenue Assurance • Advised Teleperformance Group (PARIS:RCF) in its acquisition of Alliance One Michael is actively involved in ACA International, the Association for Corporate Growth – Philadelphia chapter (membership committee), Jewish Federation, the American University Alumni Association (chapter leader), Turnaround Management Association - Philadelphia Chapter, and other Philadelphia-area networking groups. He is a frequent speaker on the state of the debt collection industry and M&A trends at ACA International’s unit conferences. Michael is a regular contributor to insideARM.com, where he writes blogs and industry analysis, is often quoted for his insights, and maintains a social media page for ARM industry M&A analysis. Prior to joining Kaulkin Ginsberg in 2003, Michael was the Co-Founder and Program Director of the U.S.-Israel Business Exchange in Washington, D.C. This public/private initiative was established out of the Embassy of Israel to accelerate the market entry of Israeli companies in the Greater Washington, DC region, and to enhance relations between U.S. and Israeli businesses. Michael developed a network that grew to over 3,000 executives and helped over 80 Israeli start ups create business plans, develop sales and marketing strategies, connect to venture capital funds, strategic and joint venture partners and customers. Michael received his Bachelor of Arts degree in International Studies specializing in Latin America and the Middle East from American University’s School of International Service in 2002. Hobbies & Interests – Michael enjoys running, skiing, sailing, reading a good book, locating investment opportunities and travelling internationally. Michael works from an office in Philadelphia. He can be reached at +1-240-499-3808 or by email.
With the media continuing to shine a spotlight on the ARM industry and the ramp up of the CFPB supervisory activities, buyers that are either acquiring or investing into an ARM company are spending much more time evaluating the strength of an organization’s compliance management system (CMS).
It is not everyday that one of the largest and well-known U.S. publicly traded debt buyers, Asset Acceptance Capital Corp. (NASDAQ: AACC), announces that it will be acquired by one of its publicly traded competitors, Encore Capital Group, Inc. (NASDAQ: ECPG). But it’s not all that surprising.
Two particular areas that are near and dear to my heart, as an M&A advisor, is the importance of creating and maintaining forecasts and having the ability to track profitability by client.
Q4 2012 was extremely busy with deals that were in motion to close on or before December 31st, ahead of anticipated capital gains tax increases. Despite the passage of those tax increases, we still see high M&A volume in the cards for 2013.
Strategic and ARM industry buyers are not the only fish in the sea to consider when thinking about a sale of your business. Private equity firms have been very active in outsourced business services (OBS) in 2012. We have seen many platform and add-on investments get done this year and I am sure as we approach year-end, there will be a flurry of more deal closing announcements ahead of anticipated capital gains increases.
A business publication featured the story of an ARM company that is has experienced significant growth, and is expecting more, by diversifying into different asset classes.
For the past two decades, the accounts receivable management industry has been dominated by firms that purchased and/or collected credit card receivables. But the financial liquidity crisis of 2008 spurred a sea change in that market.
The convergence between Accounts Receivable Management (ARM) and Revenue Cycle Management (RCM) providers continued to be apparent in Q1, as both strategic buyers and larger private equity backed Healthcare OBS companies were aggressively seeking acquisition opportunities in both markets.
This will undoubtedly be another roller coaster year from an M&A perspective with a lot of mergers among the small and mid-size ARM firms, high profile domestic and international transactions and new private equity and strategic entrants.
As we approach year-end, a lot of debt collection agency owners may be thinking about what do with their current facility space. Do they move into nicer digs, stay where they are and sign a longer term lease, or simply go out and buy a building?