United Recovery Systems Inc. (URS), a Houston-based accounts receivable management firm, has acquired Plaza Associates, a New York City-based collection agency, and A.C.B. American Inc. (ACB), a health care collections company located in Kentucky, M&A advisory firm Flock Advisors announced Wednesday.
Flock Advisors, an M&A advisory firm to the collections, debt buying and business process outsourcing industries, led the sale of Plaza Associates.
"Given the contraction in the credit card collections market and the consolidation of agencies by credit grantors, Plaza was seeking a strategic partner that would complement its customer base and industry focus. URS was the ideal choice. The health care collection capabilities of Plaza’s subsidiary, ACB, along with Plaza’s strengths in late stage collections, are an excellent fit with URS’ current customer base," according to a news release issued by Michael Flock, managing director at Flock Advisors.
Paul Brennan, president and CEO at Plaza Associates, added: “The sale to URS makes strategic sense for both companies, given the complementary customer base and focus on different stages in the collection cycle. 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.”
