Mercantile Adjustment Bureau, LLC, one of the fastest growing collection agencies in the ARM Industry, announced Tuesday its asset acquisition of Zenith Acquisition Corp, a contingency collection agency based in Buffalo N.Y.
Mercantile’s CEO Jeff Miller said he was inclined to make this acquisition after Zenith sold its purchased portfolios to capitalize on the strategic synergies and contingency clients that Zenith brings to the Mercantile organization.
Zenith’s former CEO, David Paris, who as a result of the acquisition assumed a business development position with Mercantile, said “I strongly believe this will give me the opportunity to focus on the growth and expansion of a new debt buying company, Soaring Capital LLC, owned in partnership with Howard Hornblass, and to contribute toward the continued growth of Mercantile.”
Miller commented, “While I’m looking forward to Paris’ contributions toward the achievement of Mercantile’s growth objectives, the business of Mercantile and that of Soaring is mutually exclusive.”
Mercantile is a leading provider of accounts receivable management services, specializing in both first and third party collections. The Company’s corporate office is in Buffalo, NY, with two other facilities located in Rochester, NY and Tampa, FL, Mercantile operates in all 50 states. The Company has been servicing distressed receivables for over 75 years and is one of the fastest growing organizations in the ARM space.