Unifund Group has acquired First Resolution Investment Corp., including all assets and an estimated 72,000 accounts with a face value of $1 billion.
Unifund buys bad debt and receivables and is involved in predictive analytics for the distressed consumer receivables industry. Unifund, through Recovery Decision Science, offers companies an opportunity to unlock the value of their dormant judgment and receivables portfolios through a unique predictive and guaranteed asset location information, according to the company.
Through partnerships with strategic allies, First Resolution utilized their software and systems to effectively offer pre-legal collections, administrative support services and legal services. The company was founded in 1997
Under the leadership of President and CEO C. Tim Rodenbush, First Resolution has purchased more than 90 portfolios. Rodenbush has been an active member of the Vancouver, B.C. business community since 1967 and has led several ventures in both the Canadian and U.S. markets focusing on debt recovery and consumer location services.
Unifund Chief Operating Officer Jason Kaster said, "Utilizing our affiliate, Recovery Decision Science Paymetrix AI technology, Unifund was able to analyze and find value in [First Resolutions] portfolio that allowed us to be the winning bidder and strategic partner on this acquisition. This acquisition is complimentary to Unifunds legal servicing business and positions us well for 2015 and beyond."