Venture Creates Largest Minority-Owned Collections Agency in the U.S.
September 8, 2010
BETHESDA, MD//SEPTEMBER 8, 2010. RLJ Equity Partners, LLC has joined forces with the senior management team of Enhanced Recovery Corporation to form Enhanced Recovery Company, LLC ("ERC" or the "Company"), the largest minority owned accounts receivable management company in the country. Founded in 1999 by Mark Thompson and Kirk Moquin, Enhanced Recovery Corporation is one of the fastest growing and well diversified accounts receivable management companies in the U.S. The Company utilizes its state of the art technology platform to perform accounts receivable and collection services for the bankcard, retail, cellular, landline, overdraft, cable, utility, home equity lines of credit and auto sectors. The company is ISO 27001 certified and has won numerous "collection agency of the year" awards from several of its clients. "We are extremely excited to partner with Mark and Kirk and the entire senior management team of ERC," said Rufus Rivers, Managing Director of RLJ Equity Partners, LLC. "We believe our relationships with ERC's existing and potential customers will be extremely beneficial as the Company continues its rapid growth and enters new markets," he added. "We're absolutely thrilled to partner with the exceptional business leaders at RLJ. We are quite confident that this new partnership will bring expanded capabilities to ERC's already exciting growth trajectory," said Mark Thompson, Co-Chief Executive Officer of ERC. "This is an exciting time at ERC and we are proud to have such a prestigious investment partner in RLJ. Along with Mark and I, our entire senior management team has reinvested all of their equity into the new company which signifies the commitment we have to continuing to build an organization focused on being a great partner to our clients and a company that all of our employees are proud to be a part of," said Kirk Moquin, Co-Chief Executive Officer at ERC. THE RLJ COMPANIES and RLJ EQUITY PARTNERS, LLC
The RLJ Companies, founded by Robert L. Johnson, is an innovative business network that provides strategic investments in a diverse portfolio of companies. Within The RLJ Companies portfolio, Johnson owns or holds interests in businesses operating in banking, private equity, hospitality, automobile dealerships, entertainment, professional sports, and video lottery (VLT) gaming. Prior to forming The RLJ Companies, Mr. Johnson was founder and chairman of Black Entertainment Television (BET). In 2007, Mr. Johnson was named by USA Today as one of the "25 Most Influential Business Leaders of the Past 25 Years." The RLJ Companies is headquartered in Bethesda, Maryland, with affiliate operations in Charlotte, NC; Little Rock, AR; Los Angeles, CA; Orlando and Ft. Lauderdale, FL; San Juan, PR; and Monrovia, Liberia. For further information, please visit: www.rljcompanies.com.
The RLJ Companies Media Contact: Traci Otey Blunt 240.744.7858 or press@rljcompanies.com RLJ Equity Partners, LLC, an affiliate company of The RLJ Companies, was formed through a strategic alliance with The Carlyle Group, one of the world's largest private equity firms with more than $85 billion under management. RLJ Equity Partners is a middle market private equity firm that focuses on generating long-term capital appreciation through investments in profitable businesses where it is able to partner with proven management teams to enhance value and growth through a combination of strategic capital and operational insight. The firm primarily invests in North American companies with enterprise values between $50 million and $250 million and acquires control or meaningful equity positions through buy-outs, recapitalizations, and growth equity infusions. Although the typical equity investment size is between $15 million and $30 million per transaction, RLJ Equity Partners has the ability to pursue larger transactions in collaboration with its strategic partners. For further information, please visit www.rljequitypartners.com.
RLJ Equity Partners Contact: Rufus H. Rivers 240.744.7807 ENHANCED RECOVERY COMPANY, LLC (ERC)
Headquartered in Jacksonville, Florida, Enhanced Recovery Company, LLC (ERC) is a Collection Agency that has emerged as a leader in the ARM Industry. Combined with two other branch offices in Orange Park, Florida and Waycross, Georgia, ERC employs over 900 people and provides collection services to an extremely diversified list of clients encompassing a broad range of asset classes and account segment types. With significant scalability in the areas of facility and data resources, ERC is able to accommodate growth without putting undue strain on its infrastructure. ERC is managed by an elite group of executives that bring extensive industry experience, as well as their vision and innovation, to create a collection agency that separates itself from the competition. For more information please visit: www.erccollections.com
ERC Contact: Kirk Moquin 904.371.1004 or kmoquin@erccollections.com ERC was advised by McColl Partners, LLC and RLJ Equity Partners, LLC was advised by Kaulkin Ginsberg. About Kaulkin Ginsberg
As the leading strategic advisor for the accounts receivable management industry (ARM), Kaulkin Ginsberg has completed over 130 M&A transactions valued at over $3 billion. Services focus on analysis, growth, and exit strategies for ARM companies. Kaulkin Ginsberg's media division is the worldwide leader in providing timely news and insight on the recovery of debt in all industries. Read more about Kaulkin Ginsberg at www.kaulkin.com.
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