Diversified Recovery of Texas Closes Recapitalization From Hale Holdings Group, LLC; Prepares for Market Expansion
AUSTIN, Texas, Feb. 9, 2011 /PRNewswire/ -- Hale Holdings Group, LLC, an Austin, Texas-based private equity group, today announced the completion of an investment in Diversified Recovery of Texas, Inc., a business-to-business services company that provides collateral recovery services. Corporate Investment, an Austin, Texas-based M&A advisory firm represented Diversified Recovery in the transaction. The investment was in the form of a recapitalization, which was done in partnership with members of the company's management team, who retained a significant stake in the company. Terms of the transaction were not disclosed.
Rick Campbell, one of the founders of Diversified Recovery, retained an equity stake and continues as president of the company. Campbell commented, "We are very excited about our new relationship with the Hale Holdings Group. We have been aggressively pursuing growth strategies and Hale Holdings will provide us with significant resources that will help us achieve our goals on a faster timeline."
Rick Campbell added, "We were very pleased with the representation that Diversified Recovery received from Corporate Investment. We felt Larry Schumann and his team took the time to really understand our business and our goals and then executed a marketing plan to find the right partner for us. Their execution expertise and advice proved invaluable."
Larry Schumann is a Managing Director with Corporate Investment and led the deal team for Diversified Recovery of Texas.
Joseph Hale, a principal with the Hale Holdings Group, said, "We conducted extensive research on the collateral recovery market and found that Diversified Recovery was truly a leader in the industry. The company has a solid operating foundation and a reputation for unparalleled performance and customer service. We are very impressed with the Diversified Recovery team and are excited about working with management to accelerate expansion into new geographic markets and adding new services."
About Diversified Recovery of Texas, Inc.
Founded in 2002, Diversified Recovery of Texas, Inc. is a fully and properly licensed, bonded and insured collateral recovery company that serves six major markets in Texas and Southern New Mexico, including Austin, San Antonio, Waco, El Paso/Southern New Mexico, Houston and Dallas/Fort Worth. The Company's clients include large banks, and prime and sub-prime lenders. Diversified Recovery employs approximately 70 dedicated recovery specialists. For more information, please visit www.diversifiedrecoveryoftexas.com.
About Hale Holdings Group, LLC.
Hale Holdings Group, LLC manages a portfolio of investments in public and private securities in a range of industries. Hale Holdings is a highly qualified value-added investor because its principals bring a breadth and depth of industry, financial and managerial experience to its investment partners, helping them achieve their goals. For more information, please visit www.haleholdings.com.
About Corporate Investment
Corporate Investment is a financial advisory firm specializing in business sales, mergers and acquisitions, corporate development, and planning exit strategies. Founded in 1984 in Austin, Texas, Corporate Investment works primarily with the owners of middle-market businesses in a variety of industries. For more information, please visit www.corpinvest.com.