Accounts Receivable Management industry transactions in the first half of the year reflect a trend of U.S. groups expanding internationally, according to a mergers-and-acquisitions report from Greenberg Advisors.
Deals involved 13 sellers in Europe, Scandinavia and Canada and 11 U.S.-based sellers.
One of the more interesting deals in the second quarter, according to the report, involved the acquisitionby U.S.-based J.C. Flowers LLC of British debt collector Cabot Credit Management Ltd. J.C. Flowers had been searching for investments in the British financial services industry after building a small UK banking business two years ago.
Just two weeks after that deal was announced, J.C. Flowers revealed its plan to sell 50.1% of Cabot to San Diego-based debt buyer Encore Capital. Encore CEO Ken Vecchione said Cabot is "well positioned" to bid on distressed consumer loans expected to come to market in the United Kingdom over the coming years as banks look to get rid of them.
For more information on deals in the first six months of 2013, including total transaction volume, click here for the report from Greenberg Advisors.