Philadelphia, PA — August 22, 2023 — Corporate Advisory Solutions (“CAS”) is pleased to announce the successful completion of the acquisition of ABC-Amega, Inc. (“ABC-Amega”) by Trivest Partners (“Trivest”), a prominent private equity firm. CAS acted as the exclusive sell-side M&A advisor to ABC-Amega in this transaction.
Established in 1929, ABC-Amega is a venerable commercial accounts receivable management business that has established a reputation of a trusted provider of full-service, B2B accounts receivable management, first-party outsourcing solutions, and industry credit services. Headquartered in Buffalo, NY, ABC-Amega is recognized as a leader in global commercial accounts receivable management, boasting proprietary technology and decades of industry experience. In the wake of this acquisition, ABC-Amega will maintain its autonomy, with its current executive leadership — including President Paul Catalano and Chief Financial Officer Robert States — continuing to guide the organization. While relinquishing his day-to-day duties to BII CEO John Fisher, ABC-Amega’s Chief Executive Officer David Herer will retain an advisory role as a member of BII’s strategic advisory board.
“I first met the team from Trivest in early 2023 to discuss our respective views on the future of the commercial collection industry,” said David Herer. “I was immediately struck by how their business strategy and values paralleled our own: a commitment to provide a complete range of business-to-business, order-to-cash services, performed globally for the world’s greatest companies, through a culture based on caring about people as a family business naturally does. I soon realized that partnering with Trivest and their colleagues at BII would be the best way for ABC-Amega to finally achieve my dream of becoming the biggest, most advanced, most international, and most successful US-based provider in our industry. Two months after completing our transaction, I’m even more convinced and satisfied by my decision to join forces with them.”
Trivest’s acquisition of ABC-Amega aligns with the strategic vision of BII Services Corp (“BII”), a holding company formed by Trivest to create a premier commercial order-to-cash management solutions provider. This acquisition underscores BII’s commitment to delivering comprehensive and innovative solutions to meet the evolving needs of its clients.
Forest Wester, Managing Partner at Trivest, added, “We are pleased to partner with ABC. Their track record over nearly a century delivering industry-leading commercial collection solutions is remarkable. It has been a pleasure working with David Herer, a third-generation founder, and helping him realize his goals and vision for ABC and its employees.”
BII CEO John Fisher commented, “We are thrilled about the transaction. ABC-Amega’s reputation in the industry is renowned, including the exceptional subject-matter expertise of its people and level of service delivered to its clients. ABC also has a long history in international collections, which will now be bolstered by BII’s global delivery centers in Latin America, Europe, South Africa, and Asia. We are excited about the opportunity to bring to ABC’s client base an expanded service offering including digital transformation capabilities, AI/ML, offshore first-party collections, and order-to-cash outsourcing. I truly believe that there are no limits to what our organization can do for our clients when you consider the talented and passionate leadership team at ABC-Amega!”
Mark Russell, Managing Partner at Corporate Advisory Solutions, highlighted CAS’ integral role and involvement, stating, “It was rewarding to work with David and his team along with individuals at Trivest and BII. The combination of ABC-Amega and BII was a logical fit, as the two synergistically aligned businesses both benefit from expanded capabilities allowing for continued growth and penetration in the commercial end-market.” Mark added that, “This transaction adds to what has been a very active year for CAS, as ABC-Amega marks CAS’ 9th completed M&A transaction in 2023. Given current market conditions, we expect this momentum to continue through the end of the year and into 2024”.
Corporate Advisory Solutions
Corporate Advisory Solutions (CAS) is an independent investment and merchant banking firm based in Philadelphia and Washington, D.C., specializing in M&A, valuation and strategic advisory services for the Global Outsourced (tech-enabled) Business Services (OBS) sector. Our core markets include Accounts Receivable Management (ARM), Revenue Cycle Management (RCM), and Customer Relationship Management (CRM). The CAS team brings over 40 years of combined M&A, valuation, exit prep, and strategic advisory experience to every engagement, and its members have successfully completed over 140 transactions representing more than $2.5 billion in deal value within these core markets. Visit our website:Corporate Advisory Solutions
CAS publishes a quarterly newsletter that highlights deal activity and macroeconomic trends within the OBS sector. Q2-2023 Newsletter
Securities conducted through StillPoint Capital Member FINRA/SIPC, Tampa, FL.
Trivest Partners LP, with offices in Miami, Charlotte, Chicago, Los Angeles, Philadelphia, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the United States and Canada in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 500 investments, totaling nearly $8 billion in value. To learn more, visit www.trivest.com.
Founded in 1929 as the American Bureau of Collections and headquartered in Buffalo, NY, ABC-Amega has a rich history of providing commercial debt collection solutions for business-to-business clients around the world. ABC-Amega specializes in third-party commercial debt collection, first-party accounts receivable outsourcing, and industry credit group management. The company has been committed to global, commercial debt recovery since the 1960s, when it first began collecting past-due accounts internationally. ABC-Amega began developing proprietary software in the 1970s, which allows the firm to deliver receivable management and credit interchange services to over 500 clients worldwide.
BII Services Corp (“BII” or “Company”) is a holding company formed by Trivest to build the premier provider of commercial order-to-cash management solutions. BII’s first acquisition was AG Adjustments in March 2019, which is exclusively focused on third-party commercial debt recovery. In October 2021, BII subsequently acquired TranSubro, an insurance subrogation company, and D&S Global, a technology-enabled, international order-to-cash services provider in February 2022. After the
ABC-Amega acquisition, the Company has approximately 700 employees serving over 1,000 customers across all industries from locations in the US, Colombia, Brazil, Romania, Italy, India, Singapore, and South Africa.
For media inquiries, please contact: Nick Ciabattone, Director, Corporate Advisory SolutionsEmail: [email protected]