Two debt collection agencies in Western New York are merging.
Greystone Alliance LLC, based in Getzville, N.Y., and Turning Point Capital, based in Amherst, N.Y., have announced a merger and that they are now operated as Greystone Alliance LLC, according to a news release. Terms of the deal were not disclosed.
Anthony Frisicaro founded Greystone Alliance, which has 50 employees, in 2009. Jack and Bob Manely founded Turning Point Capital, which has 15 employees, in 2010. The new company plans to go beyond the traditional debt recovery track and expand into real estate, student loans and medical debt collections, Frisicaro said.
The Frisicaro family will have controlling interest in the company. Frisicaros sons Daniel and Eric and Manleys son Bob are vice presidents of the new company.
The company hopes to expand to 200 employees at its call center in Amherst, N.Y. by the end of 2014.
Anthony Frisicaro founded Account Solutions Group in Amherst in 1995 and later sold the company to ICICI-OneSource in India. Bob Manley formed US Appraisal Inc. in 1989 and sold it in 2001 to TransUnion.