ATLANTA — Flock Advisors, an M&A advisory firm specializing in the collections, debt buying, and business process outsourcing industries, is pleased to announce its leadership of the successful sale of the business of AID Associates, Inc. (d/b/a Plaza Associates (“Plaza”), a leading collections agency based in New York City, and A.C.B. American, Inc (“ACB”), a Kentucky-based collections agency to Plaza Recovery, Inc, a wholly owned subsidiary of United Recovery Systems, Inc (“URS”), based in Houston, Texas.
Flock led the sale of Plaza after reviewing several other target candidates under consideration. Given the contraction in the credit card collections market and the consolidation of agencies by credit grantors, Plaza was seeking a strategic partner who would complement its customer base and industry focus. URS was the ideal choice. The healthcare collection capabilities of Plaza’s subsidiary, ACB, based in along with Plaza’s strengths in late stage collections, are an excellent fit with URS’ current customer base.
Paul Brennan, President and CEO, commented:
“The sale to URS makes strategic sense for both companies, given the complementary customer base and focus on different stages in the collection cycle.”
He added:
“As our long-term M&A advisor, Flock Advisors identified several possible partners and ran a very creative and comprehensive sale process. Through their investment banking expertise, perseverance, and dedication to the people at Plaza, they negotiated a great deal for our company in a very challenging market environment.”
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