Sagres/Union Adjustment Venture Wins “Approved Bidder” Status from City of Los Angeles

The City of Los Angeles has selected The Sagres Company of San Diego, California and The Union Adjustment Company of Burbank, California (a joint venture of the two accounts receivable management firms) as a single qualified party to purchase Delinquent Accounts Receivable from the City.   The Sagres/Union Adjustment venture represents over 70 years of experience in the management of accounts receivable, including Federal and local government accounts.

Lloyd Dix, VP at Union Adjustment said, "There is a mutual benefit inherent in an effective partnership between California business and government.  Federal, State and local agencies can find greater efficiencies by using private sector sources that specialize in areas such as non-paying receivables.  This allows Government groups to concentrate on their traditional core mission of providing services for the public good.”

Tom Ferris, CEO of the Sagres Company said, “The City of Los Angeles has demonstrated vision and leadership by bringing otherwise valueless assets to the marketplace in exchange for immediate capital during these critical economic times.  I expect other government leaders may look to this example as a first step in implementing improved fiscal controls.”  

For more information about The Sagres Company and Union Adjustment, please visit www.sagresco.com and www.unionadjustment.com.