NORTHBROOK, IL – Hilco Receivables, LLC, a leading purchaser and servicer of non-performing and under-performing accounts receivable portfolios, today announced the opening of a 20,000 square foot collection call center. The state-of-the-art facility, located at 1120 Lake Cook Road, Buffalo Grove, Illinois, will employ more than 200 call center personnel.
The call center, a wholly-owned subsidiary of Northbrook, Illinois-based Hilco Receivables, will operate as Apex Financial, LLC. Collection industry veteran Bill Kolz has been named Director of Operations. Kolz is a former Chief Operating Officer for a 1,000 employee collection agency in the Chicago area. The facility will service consumer and commercial portfolios placed with it for collection on a contingent fee basis by financial institutions and other third parties.
“This new call center will provide a unique performance-driven platform to the market,” said Kolz. “It is built with state-of-the-art technology and will utilize Hilco’s data metrics derived collection strategies to optimize results for our clients,” added Kolz. Hilco Receivables will service selected portfolios of its own through the facility.
The opening of Apex Financial marks the return of Bruce R. Passen and Jay J. Stone to call center ownership. Passen, President and CEO of Hilco Receivables, was founder and owner of Chicago-based Abacus Financial Management Services, LP. Abacus was acquired in 1998 by Risk Management Alternatives, Inc., a portfolio company of GTCR Golder Rauner, LLC. Stone, a principal of Hilco Receivables who serves as Executive Vice President, worked as vice president of business development for Abacus from 1994 to 2000.
“We are excited about the prospects for our new call center,” said Bruce Passen. “It will help us maintain the rapid growth we have experienced at Hilco Receivables since the company was founded in June 2000.” Passen noted that in just the past two years, Hilco Receivables has acquired more than $2 billion in receivables. “Apex Financial will assure us that we have the resources to continue providing outstanding service to our clients and for our own account.”
In addition to purchasing and servicing accounts receivable, Hilco Receivables provides receivables appraisals to lenders and financial institutions, and also provides financing to other strategic acquirers of receivables portfolios. The company is a member of The Hilco Organization, an international leader in business asset valuation, acquisition, disposition and financing.