Kaulkin Ginsberg Announces Acquisition of Rapid Collection Systems by National Credit Systems
February 3, 2009 :Rockville, MD – Kaulkin Ginsberg announced today that National Credit Systems (NCS), a Georgia-based debt collection agency specializing in apartment and rental collections has acquired Rapid Collection Systems (RCS), an Arizona collection agency that also serves clients in this sector. Kaulkin Ginsberg, the leading M&A and strategic advisor to the debt collection industry, initiated the transaction and advised NCS. Terms were not disclosed.
“As the economy continues to contract, companies in accounts receivable management with a strong cash position are capitalizing on expansion opportunities, including mergers and acquisitions,” noted Michael Lamm, Associate at Kaulkin Ginsberg and lead advisor on the transaction. “We’ve been predicting collection agencies and debt buyers in a good financial position would begin to acquire other companies to gain clients, expand geographically, and/or increase market share. This transaction illustrates the trend.”
National Credit Systems, based in Atlanta, GA, is a specialist in apartment-related collections, and it represents over 98 percent of their business. Since its inception in 1991, it has received over $2 billion in placements from the industry. “The RCS transaction provides us with an opportunity for accelerated growth in the Southwest market and adds a number of blue-chip clients to our growing list,” noted Joel Lackey, Chairman and CEO of National Credit Systems.
Rapid Collection Systems is an Arizona collection agency founded in 1991. RCS provides traditional third party collection services as well as pre charge off programs, letter generation, and credit bureau reporting in addition to a full service litigation unit. H. Lee Goldblatt, president and founder of Rapid Collection Systems said, “We are excited to be a part of National Credit Systems. Their technology innovations will give our seasoned team added resources for continued growth,” adding that he will remain on as a consultant to NCS.
Michael Lamm, Associate
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