Kaulkin Ginsberg Announces the Acquisition of Eastern Revenue, Inc. by Two Industry Veterans
February 3, 2009: Rockville, MD – Kaulkin Ginsberg announced today that Eastern Revenue, Inc., a third-party collection agency based in Audubon, PA, has been acquired by longtime industry professionals, Kyle Shanahan and Larry Goldman. The transaction closed in December through a stock purchase agreement and terms were not disclosed. Kaulkin Ginsberg, the leading M&A and strategic advisor to the accounts receivable management industry, initiated and advised on the transaction for Mr. Shanahan and Mr. Goldman.
According to Mark Russell, Director at Kaulkin Ginsberg and lead advisor on the deal, “This transaction involved an SBA loan, which is particularly exciting because it has been a challenge to close small deals in this economy – especially with SBA loans. However, the good news is that smaller deals are still being financed when it is the right opportunity.”
This is Mr. Shanahan and Mr. Goldman’s first foray as entrepreneurs, although they have been in the ARM industry for 15 years and 12 years, respectively. Mr. Shanahan was formerly the CEO of a separate collection agency, and Mr. Goldman was the Sales Manager of the same company. “This is an exciting opportunity for us,” Shanahan noted. “We are hitting the ground running with a staff of seasoned collection professionals, a list of tenured clients and a scalable operation. We are well positioned to deliver high quality service and results to our customers.”
Kaulkin Ginsberg anticipates that more transactions will be completed by current and former experienced accounts receivable management professionals in 2009. “This is the third such transaction we’ve closed within the past two months,” noted Russell. “The economic downturn has helped lower the price for entry, so there are more attractive acquisition opportunities for proven veterans like Mr. Shanahan and Mr. Goldman.”
Mark Russell, Director
Kaulkin Ginsberg Company
About Kaulkin Ginsberg
As the leading M&A advisor for the debt collection / accounts receivable management industry (ARM), Kaulkin Ginsberg has completed over 125 M&A transactions valued at over $3 billion. For ARM service providers, value-add strategic advisory services focus on analysis, growth, and exit strategies. For credit grantors, the focus is on optimizing receivables management strategies. Kaulkin Ginsberg’s media division is the worldwide leader in providing timely news and insight on the recovery of debt in all industries. Kaulkin Information Systems creates secure and affordable workflow, document, and business process management technologies. Read more about Kaulkin Ginsberg at www.kaulkin.com.
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