Minnesota Collection Agency Bought by Private Equity Firm

A collection agency in Minnesota has been acquired by a private equity firm in Wisconsin. The deal was originally reported by the Minneapolis-St. Paul Business Journal.

Northland Group, Inc., based in Edina, Minn. in suburban Minneapolis, has been snapped up by Milwaukee-based Mason Wells Buyout Fund II, a private equity firm that specializes in mid-sized companies located in the Midwest.

Terms of the transaction were not disclosed. Rockville, Md.-based accounts receivable management advisory firm Kaulkin Ginsberg Company advised Northland on the deal.

Lance Black, Northland's president, told the Business Journal that business has steadily increased recently and that the deal would give the company's management the space to continue that growth.