GERMANTOWN, Md. – Kaulkin Ginsberg Company announced today the acquisition of Remit Corporation, a well-established regional collection agency founded by Harry Strausser III, and based in Bloomsburg, Pennsylvania, by Eastern Revenue, Inc. Founded in 1989, Eastern is a collection agency based in Wayne, Pennsylvania, servicing higher education receivables, municipalities, healthcare providers and other credit grantors. Kaulkin Ginsberg initiated this transaction and served as the strategic advisor to Eastern. The details of this transaction were not announced.
With this acquisition, Eastern will now have access to Remit’s list of established clients and experienced leadership team including Harry Strausser III. Harry will be working with Eastern to build their business while maintaining his strong relationship with ACA International, where Harry served as a past president.
This is the second transaction that Kaulkin Ginsberg completed with Kyle Shanahan, the owner of Eastern. According to Mike Ginsberg, President and CEO of Kaulkin Ginsberg, “We could not be more pleased with the outcome of this transaction. Eastern has acquired a great collection operation with an immaculate reputation and a leader in Harry Strausser that will add considerable value to the Eastern executive team. We enjoy working with Kyle Shanahan and his team. Kyle is a very thoughtful owner with a strong ability to see the big picture in his negotiations with a seller.”
“This is Eastern’s second acquisition in less than three months and demonstrates our company’s commitment to our strategic mission of expanding while maintaining our strong integrity and desire fully service our clients” proclaimed Kyle Shanahan, the owner of Eastern. “In addition to Remit’s solid client base, we gain a remarkable leader in Harry Strausser. We are thrilled with the outcome of this transaction.”
About Kaulkin Ginsberg
Since 1989, Kaulkin Ginsberg has provided strategic advisory services to the accounts receivable management (ARM) industry and middle-market companies in the D.C. region. Owners, executives, investors and professionals rely on Kaulkin Ginsberg for the insight, access and information needed to make critical decisions.