At the start of 2020, the mergers and acquisitions (M&A) outlook was very positive for U.S. accounts receivable management (ARM) companies. The economy was strong. Public stocks were performing consistently well. Unemployment levels were at record lows. Consumer confidence was high. Companies and governments were outsourcing noncore business functions to third party specialists at increased rates. Regulations were finally being clarified. Most ARM companies were performing very well. The M&A markets were attractive for buyers and sellers alike.
Then in March 2020, the global coronavirus pandemic set in and everything abruptly changed. A year later, we want to make sure you know the current climate for M&A in the U.S. ARM industry. That’s why we started Kaulkin Ginsberg’s M&A discussion series. As part of the series, Mike Ginsberg will sit down with various owners of ARM business who recently completed an M&A transaction and get their point of view.
During this episode, Mike spoke to Mike Baldwin, CEO of Altus / Brown & Joseph. Discussion topics included why Altus/B&J decided to make acquisitions an integral part of their growth strategy, types of companies it was looking to buy, what an owner should expect if they sell their company, among other critical topics.
Please watch the below 46 minute M&A discussion video. Enjoy!
Mike Baldwin spent the first 20 years of his career with Dun & Bradstreet in various Sales leadership and GM roles. He entered the Commercial Receivables industry in 2002 as SVP of D&B RMS shortly after that business was spun out of D&B under the ownership of P&C Private Equity. In 2005 Mike was promoted to President or RMS and in 2008 he became CEO of RMS. At that time RMS was owned by CVCI PE.
During 2011 Mike led the sale of the RMS business to iQor BPO which was owned by Huntsman/Gay PE Group.
In 2018, Mike was asked to become CEO at Altus Receivables Management. After a highly successful run at Altus, Altus was sold to commercial insurance receivables leader Brown & Joseph which is owned by Incline Equity Partners. Within this transaction, Mike has continued on as CEO of the combined Brown & Joseph / Altus company.