Mercantile Adjustment Bureau, LLC, one of the fastest growing companies in the ARM industry, is pleased to announce their acquisition of Creditors Interchange Receivable Management, LLC.
Creditors Interchange is a top tier collection agency servicing marquee clients in market verticals such as, banks, colleges, auto lenders, and debt buyers. With this acquisition, Mercantile has grown to 500 employees said Mercantile CEO Jeff Miller.
Miller said, “I’m grateful for the opportunity to make CI the second strategic acquisition of 2012; acquiring CI is a perfect complement to Mercantile’s base of business and platform. The addition of CI solidifies Mercantile’s position to further its expansion objectives through a continued blend of organic growth and selective strategic acquisitions.”
“I am very excited to again be working with some of the best in the industry and welcoming them into the Mercantile family,” said Mercantile’s President, and former CEO of Creditors Interchange, Bruce Gray. “The legacy of CI will carry on with Mercantile’s current proven management team and employees combined with CI’s team. Mercantile will have one of the ARM industry’s most seasoned and experienced leadership and employee teams,” said Gray.
“The acquisition of Creditors Interchange will take our solid performance and service quality delivery to the next level for our existing and prospective client partners. This is an element that is more essential than ever given our Industry’s continued demand for compliance, quality and performance,” said Lance DellaMea, Mercantile’s COO.
Miller said, “It was a pleasure to work with Mark Russell and Michael Lamm from Kaulkin Ginsberg, who served as strategic advisors to Creditors Interchange. We are currently looking at future acquisition opportunities and expect Mercantile to become a top 20 ARM company by the end of 2013.”
Mercantile Adjustment Bureau is a Buffalo based full service accounts receivable management company providing third and first-party and specialty services, with offices in Rochester NY, Tampa FL and Willow Grove PA. Their client base includes banks, financial institutions, debt buyers, colleges and universities, utilities, healthcare providers and telecommunication companies.
Founded in 1989, Kaulkin Ginsberg is the foremost M&A and strategic advisory firm that specializes in the outsourced businesses services sector. The firm has completed over 130 transactions representing nearly $3.5 billion in shareholder value for a variety of clients—from small family businesses, to Fortune 500 companies, to various financial investment firms. Kaulkin Ginsberg operates from two offices based in Rockville, MD and Philadelphia, PA.
For more information about Kaulkin Ginsberg, visit www.kaulkin.com.