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Slide #53. Encore Capital Group, Inc. — Controlling Stake in Cabot Credit Management
Encore Capital Group, Inc. (NASDAQ:ECPG)
Controlling Stake in Cabot Credit Management
Encore Capital Group, Inc. (NASDAQ: ECPG), a leading U.S. debt management and recovery company, announced today that it has closed its acquisition of 50.1% of the equity interest in Janus Holdings Luxembourg S.a.r.l. ("Janus Holdings"), an indirect holding company of U.K. and Ireland-based Cabot Credit Management Limited ("CCM"). The remaining 49.9% of Janus Holdings is held by a fund advised by J.C. Flowers & Co. LLC ("J.C. Flowers"). The transaction was originally announced on May 30, 2013.
Encore Capital Group is an international specialty finance company providing debt recovery solutions and other related services for consumers across a range of financial assets. Co. primarily purchases portfolios of defaulted consumer receivables at deep discounts to face value and manages them by working with individuals as they repay their obligations and work toward financial recovery. Defaulted receivables are consumers' unpaid financial obligations to credit originators, including banks, credit unions, consumer finance companies and commercial retailers. Co. also provides debt servicing and other portfolio management services to credit originators for non-performing loans.
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Buy (3.20 out of 4)