Primary Financial Services, LLC, a CBV Collections Company, a leading provider of collections and recovery solutions, is pleased to announce that it has in place an agreement for the purchase of Pentagroup Financial, LLC of Houston, TX.
Under the confidential terms of the agreement, which will go into effect March 27, 2013, Pentagroup will be integrated into Primary Financial Services, LLC.
The new organization will operate under the name Primary Financial Services, LLC in the US market place and will serve the industry’s most prestigious brands in the Financial Services, Automotive, Mortgage and Utility markets, spanning the complete customer lifecycle. This transaction will create a combined company with the capabilities to drive growth in strategic markets, invest in human capital and insure “best in class” compliant processes and technology.
Bob Richards, CEO of CBV Collections, commented, “We are excited to bring Pentagroup on board and look forward to its quick integration into the CBV family of companies. This acquisition significantly enhances our US collections footprint” Additionally, Tim Smith, President of Primary was quoted as saying, “This acquisition is another step in our movement towards building a larger, more efficient company focused on delivering ethical collections practices while treating our clients’ customers fairly.”
Primary was founded in 1996 and is based on Phoenix, AZ. CBV Collection Services Ltd. (CBV), was founded in 1921, and is a leading accounts receivable management company leveraging a customer centric approach supported by industry best business intelligence to deliver exceptional results for our clients. Headquartered in Vancouver, Canada, with more than 6 offices across Canada and in the US.
Pentagroup Financial, LLC is a Houston-based provider of collections and recovery services. Founded in 2004, Pentagroup is a nationally recognized leader in accounts receivable management. Pentagroup assists our creditors in achieving higher profitability and improving cash flow by utilizing the highly respected management expertise, next-generation intuitive technology and performance-driven collections team.