PHILADELPHIA, PA — International accounts receivable management (ARM) firm EOS Group, a company of the Otto Group, announced its entrance into the Canadian ARM market with the acquisition of Canadian debt collection business of Nor-Don Collection Network Inc. (NCN) effective November 4, 2011.
Hans-Werner Scherer, Chairman of the EOS Group’s Board of Directors, said, “After the acquisitions in the USA and Brazil, with this entry into the Canadian market we have achieved an even wider coverage of the North American continent. This is an important step in our international expansion strategy.”
NCN was founded in 1964 in Toronto and is a leading collection services provider. The company carries out debt collection for banks, telecommunications and utility companies from 5 locations throughout Canada. Scherer explains, “NCN has customer relationships lasting many years. This shows that we have found a partner who shares our outlook on customer support.”
ARM M&A advisory firm Kaulkin Ginsberg Company (KGC) initiated the transaction and advised EOS in the deal. KGC Director Michael Lamm said, “We are proud to have been able to help EOS enter the Canadian market. With a mature consumer credit sector and robust ARM industry, Canada is a natural fit for the international expansion of the EOS model.”
Paul E. Leary Jr., CEO of the North American EOS company EOS CCA, will also chair the Canadian EOS company. He noted, “EOS CCA and NCN have similar customers, and the market niches of both companies are very much alike. This creates an opportunity to improve the Canadian business through the implementation of best practices from EOS CCA. Also, there are opportunities to provide cross border services for those clients doing business in both the U.S. and Canada.”
Contact: Michael Lamm, mlamm@kaulkin.com, 240-499-3808