Kaulkin Ginsberg Facilitates the Sale of O’Connor-Ravell Associates to Commercial Collection Corporation of New York
January 4, 2010: Rockville, MD – Robert Ingold, President of Commercial Collection Corporation of NY (CCCNY), is pleased to announce that an agreement has been reached with the principals of O’Connor-Ravell Associates, Inc. (ORA) to acquire the assets of the Madison, New Jersey-based commercial accounts receivable management (ARM) firm. Terms of the transaction were not disclosed. Kaulkin Ginsberg served as advisor to the shareholders of ORA.
“ORA’s 32 years of service, ‘blue chip’ client relationships in the commercial sector, and the company’s established network of contacts will put CCNY in an excellent position for growth on the combined platform,” noted Michael Lamm of Kaulkin Ginsberg and lead advisor on the transaction. He added, “In spite of the difficult credit markets, this transaction is just one example of M&A deals closing in the ARM industry – a trend we expect to continue throughout 2010.”
CCCNY, founded in 1962, has grown into a prominently-recognized international ARM organization. Possessing a highly experienced and dedicated collection team, the organization has now expanded to a staff that totals more than 70 employees.
ORA was formed in 1977 by Georgette Ravella, Kathleen O’Connor and Mary Donnell, eventually becoming one of the leading women-owned businesses in New Jersey. When two of the founders sought to reduce their involvement in the operation in recent years, Paul Mignini was brought onboard as President. Now that the two original founders are fully retiring, the remaining two shareholders, Paul Mignini and Georgette Ravella, have sought a partner who would continue the long tradition of the founders.
President Paul Mignini said, “It has taken us some time to locate the proper ARM firm which would be able to continue what was started over 32 years ago. We are delighted with our choice, as the culture and policies of these two organizations are very much in sync.” Paul Mignini and Georgette Ravella will remain active in the new organization and continue their respective roles in servicing client needs.
“With the addition of ORA, we expect to expand our reach into other market segments and enhance our superior services to the benefit of all our clients,” reported Robert Ingold.
Both agencies are certified by the Commercial Collection Agency Association of the Commercial Law League of America and are members of the International Association Commercial Collections.
Michael Lamm, Kaulkin Ginsberg, 240-499-3808
Michael Klozotsky, Kaulkin Ginsberg, 240-499-3836
About Kaulkin Ginsberg
As the leading strategic advisor for accounts receivable management (ARM) industry, Kaulkin Ginsberg has completed over 125 M&A transactions valued at over $3 billion. For ARM service providers, their services focus on analysis, growth, and exit strategies. For credit grantors, the focus is on optimizing receivables management strategies. Sister company, insideARM.com, publishes the most popular sources of timely industry news and information. Read more about Kaulkin Ginsberg at www.kaulkin.com.
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