Stoneleigh Recovery Associates (SRA) announced today that the agency has acquired R&B Collections, Inc. of Roswell, Georgia. The acquisition will be funded through a combination of cash on hand and new debt. The transaction, which was approved by the Boards of Directors of both companies, will permit SRA to strengthen its nationwide auto deficiency collections and R&B to strengthen its compliance program.
The two agencies will continue to operate under their separate names in both Illinois and Georgia, until the customary closing conditions, licensing and regulatory approvals have been completed.
“This acquisition is an ideal fit for SRA,” said Rudy Knepper SRA president. “It will allow SRA to expand our client base into the auto deficiency collection space and also expand our infrastructure through a second location in Georgia. The transaction ultimately will enable future growth as we will have added new expertise and credibility in approaching and attracting new clients.”
SRA Vice President of Business Development, Mark Savoie stated, “SRA’s growth and enduring success is based in part upon SRA’s liquidation and return rates for our customers. SRA is consistently one of the top three performing agencies for all of our clients; we expect this outstanding performance to continue with the acquisition of R&B Collections.”
Ross Gelfand, former president of R&B Collections, was impressed by SRA’s compliance and IT measures. As Ronni Majeweski, SRA’s Director of Operations explained, “SRA has redefined excellence in the collection industry, beyond liquidation rates, by implementing compliance and security enhancements to exceed the government regulations and client expectations. These programs improve our ability to collect while minimizing risks. That’s a win-win situation.”
SRA is a nationally licensed, bonded, and fully insured boutique collection agency. Headquartered in Lombard, Illinois, SRA has been in operation since 2007. SRA provides exceptional debt recovery services for a broad spectrum of clientele in the recovery of outstanding accounts receivable. SRA is fully compliant with SSAE 16 and is a member of ACA, DBA and HMFA.
R&B Collections, Inc, based in Roswell GA and established in 1987 under the direction of Ross Gelfand, Esq, has 31 years in the collections industry representing many Fortune 500s and debt buyers specializing in both commercial and consumer collections with a niche practice in auto deficiency.
Questions should be directed to Ross Gelfand, Esq, Marketing Director at 800-899-4353 x 4601 or firstname.lastname@example.org or Mark Savoie, V.P. Business Development at 952-657-5026 or email@example.com.