Collectcents Inc. Acquires Collection Group of Canada

Collectcents Inc., operating as Credit Bureau of Canada Collections (CBCC) is pleased to announce the acquisition of the Collection Group of Canada (CGC), an innovative Toronto-based accounts receivable management (ARM) firm.

CGC’s diverse base of hundreds of clients across a variety of sectors, including commercial, telecommunications, consumer/retail, and utilities will continue operating under the CGC name. The CGC acquisition will increase CBCCs’ Canadian footprint to five call centres and will significantly expand their client base in the United States. The combined companies will employ approximately 500 people.

Jonathan Finley, President & CEO of CBCC, commented, “With their excellent reputation and capabilities in both the commercial collections arena and first party outsourcing, CGC is a welcome addition to CBCC, significantly increasing the combined capacity of both companies. This acquisition is another positive step for CBCC as we continue to grow and enhance our suite of services. We welcome the CGC family to the CBCC family of employees.”

Vince Iandoli, CEO of CGC will join Collectcents’ Board of Directors in a key advisory role. The CGC management team, led by EVP Barton Miller, will continue with CBCC and will play a leadership role in helping operate and grow CGC’s existing ARM services.

Vince Iandoli, CEO of CGC, added, “The strategic and cultural fit between CGC and CBCC convinced us to move forward with this transaction, particularly with the CGC brand remaining distinct. The entire CGC team is excited to join with CBCC as it will allow us to provide new services to our clients – we truly see this as a win for our clients and employees.”

A privately owned collection service company founded in 1984, The Collection Group of Canada (CGC) now serves multiple markets and industries through a wide range of companies, large and small, by delivering best-in-class solutions. CGC built its reputation upon commercial collections and today remains the largest commercial collection agency in Canada. Diversification into commercial and consumer first party outsourcing in Canada and the US lead annual growth rates in excess of 20%. The company employs approximately 200 people at its call centre in Toronto, Ontario. For more information, please refer to www.collectiongroup.com

Collectcents Inc. operating as Credit Bureau of Canada Collections (CBCC) is an ISO: 9001 registered privately held Canadian company operating since 1947.  It is an integrated financial group whose mission is to provide the very best full service third party accounts receivable management solutions and outsourcing services on a national level to Canadian financial, telecommunication, utility, government, educational, health care, retail and commercial sectors. Considered by both clients and competitors to be one of the most competitive agencies in Canada, CBCC relentlessly pursues excellence through its commitment to the ISO:9001 standard. Headquartered in Mississauga, Ontario, with sites in Montreal, St Catherines and Vancouver, the company employs approximately 300 people.