Fort Worth, TX – Touchstone Communications, a Fort Worth-based business process outsourcing company, recently announced the successful completion of their second stage capital campaign with the recent purchase of $1 million in equity by S&P Capital.
“The addition of S&P Capital as a significant partner will fuel our entry into the collections industry,” said Tom Slone, chief executive officer of Touchstone Communications. “We are pleased to finalize the second phase of our capital campaign so successfully. This purchase contributed considerably to the achievement of our financial goals. S&P Capital brings strong leadership and resources to the table that will allow us to meet our business goals in half the time originally projected. Together, our two companies are building what promises to be a juggernaut for effective late stage charge off recovery.”
Over the past 11 years, S&P Capital, a highly successful late stage collections company, has purchased more than $700 million in charged-off credit portfolios. Neal Patel, chief executive officer of S&P Capital, will serve on Touchstone?s board.
Touchstone Communications, which primarily serves the financial services industry with nearly 200 offshore employees, has recently completed the build-out of an additional 100 workstations dedicated to collections. Touchstone and S&P Capital actively seek charge-off portfolios and provide lenders with key advantages such as premium pricing and post-closing lender rights, including account access and buy-back provisions. Touchstone currently is licensed for operation in four states: Texas, Florida, Pennyslvania, and California.
Touchstone Communications is the largest U.S.-owned business process outsourcing company in Pakistan providing leading U.S. and UK companies with process improvement and expense reduction strategies. Clients include leading mortgage companies, bankruptcy processors, and data base compilation companies. Visit Touchstone on the web at www.touchstonebpo.com.
