Credit Services & Lending M&A » By The Online Investor Staff, updated Sat., Apr. 20, 8:43 AM
Recent mergers and acquisitions in the Credit Services & Lending M&A category.
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Slide #68. Encore Capital Group, Inc. — Asset Acceptance Capital Corp.
Acquirer:
Encore Capital Group, Inc. (ECPG)
Acquiree:
Asset Acceptance Capital Corp. (AACC)
Details:
Encore Capital Group, Inc. (Nasdaq: ECPG) and Asset Acceptance Capital Corp. (Nasdaq: AACC) today announced that Encore has entered into an agreement to acquire Asset Acceptance Capital Corp. Based in Warren, Michigan, Asset Acceptance has decades of experience in buying consumer receivables across a broad range of asset classes, as well as a tenured workforce. Combined, Encore and Asset Acceptance have purchased over 60 million individual consumer accounts, including credit card, telecommunications, consumer loans and other related assets, with a face value of over $130 billion.
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 discounts to face value and manage 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. Defaulted receivables may also include receivables subject to bankruptcy proceedings. Co. also provides debt servicing and other portfolio management services to credit originators for non-performing loans in Europe.
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Open the ECPG Page at The Online Investor »
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 discounts to face value and manage 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. Defaulted receivables may also include receivables subject to bankruptcy proceedings. Co. also provides debt servicing and other portfolio management services to credit originators for non-performing loans in Europe.
ECPG SEC Filing Email Alerts Service
Open the AACC Page at The Online Investor »
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