October 18, 2011 – Yellow Point Equity Partners (“Yellow Point”) is pleased to announce that its Fund II investee company CBV Collection Services Ltd. (CBV) has acquired Primary Financial Services LLC (“Primary”). Primary is an Arizona-based accounts receivable management company with significant expertise in collecting outstanding receivables.
This acquisition will serve as CBV’s platform in the US market for both servicing and debt purchasing activities. Bob Richards, CBV’s CEO, said, “We spoke with many qualified candidates in this process and found that Primary was the best all-around fit with CBV’s objectives and culture. We believe this combination is the right way to expand into the US market to service some of the largest credit grantors in the world.”
CBV is a leading North American accounts receivable management company with a 90-year history and over 400 employees. The company has long-standing relationships with numerous prominent blue-chip customers including the leading North American chartered banks, the major telecommunication companies and several government institutions. CBV is well positioned to benefit from the upward trend in consumer debt levels and increased outsourcing of accounts receivable management.
About Yellow Point
Yellow Point Equity Partners is a private equity investment firm with significant operating and investment experience. It invests in outstanding management teams of later-stage growth companies based primarily in western Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies. Yellow Point’s approach is supportive, hands-off with respect to day-to-day operations and active when it comes to strategic decisions and board work.
For more information, please either contact David Chapman or visit www.ypoint.ca.