Chicago, Ill. -- The principals of Glass Mountain Capital, a leader in the financial services industry, have purchased a majority stake in accounts receivable powerhouse Malcolm S. Gerald and Associates, both companies announced today.
Together, the two companies boast a diverse portfolio of clients in the retail, medical, utility, banking and governmental verticals, along with a management team having more than 150 years of combined experience in the accounts receivable industry.
"Malcolm S. Gerald and Associates are the experts in medical financial recovery, with more than five decades in the field," said Anthony Nuzzo, CEO of Glass Mountain Capital. "We are excited to join with them to bring technological innovation and best-in-class regulatory compliance to that sector."
"Anthony and the other principals at Glass Mountain Capital have a bold vision for the future of our industry," added Malcolm S. Gerald and Associates president David Stein, who will serve as an Executive Director of both companies. "Their expertise in compliance is unparalleled, and they are building a new, technology-enabled service model that we know will provide value to our clients."
The companies made the announcement during the 2018 Receivables Management Association conference at Aria Resort & Casino in Las Vegas, Nevada, the premier gathering for the accounts receivable industry.
The two companies will retain their individual names. In addition, Malcolm S. Gerald and Associates client services director Katie Stein will join the combined management team as Director of Medical Services. Malcolm S. Gerald and Associates will retain its Chicago office and will open a new, state-of-the-art call center in late spring of 2018.
"With the addition of Malcolm S. Gerald and Associates, we're bringing together many layers of subject matter expertise, as well as multiple locations, which will allow us to tailor solutions to our clients' specific needs," said Glass Mountain Capital COO Kevin Polk. "We aim to set a new standard for what it means to be a financial services company in the 21st century."
About Glass Mountain Capital
Glass Mountain Capital collects upon distressed consumer assets, combining technology, creativity and motivated employees to construct client-driven recovery solutions. The company's mission is to maximize liquidations, economy and efficiencies while maintaining a high degree of ethics through diligence, investment in technology and human capital. For more information, visit .
About Malcolm S. Gerald and Associates
A pioneer in financial recovery services, Chicago-based Malcolm S. Gerald and Associates has represented a broad spectrum of clients, from healthcare providers to municipalities, for more than 50 years. The company's full-service partnership model offers clients assistance with collections, management, training, staffing and public image development. For more information, visit www.msgerald.com.