FDR Asset Recovery Group Announces Partnership With Flock Advisors for Debt Buying Funds

Richmond Hill, Ontario – FDR Asset Recovery Group LLC announced today that it has entered into a Joint Investment Agreement with Flock Advisors to access capital from Flock’s “Falcon Fund” for the purposes of buying distressed debt portfolio’s in both Canada and the United States.

Nicholas A Papeo, Chief Executive Officer for Financial Debt Recovery Limited — the parent company for FDR Asset Recovery Group LLC — commented, “FDR has historically used its own capital to purchase distressed portfolios. With this new partnership we will be targeting debt sellers in Canada and the United States who sell a minimum of $50million annually”. Mr. Papeo went on to say that “We are very excited to be working closely with Flock Advisors, their commitment to the middle market fits perfectly with our aggressive plans for growth. We have identified portfolios that are attractive to us and with the financial backing of the Falcon Fund we plan on being a very active participant in market over the next 36 months."

“I have been actively looking for the right financing partner over the last year and with Flock Advisors I feel confident that this strategic move will allow a vast investment into the Canadian Market” commented Andy Wood Vice President, Corporate Development for FDR Asset Recovery Group LLC.

“We are excited to sign up FDR as a debt buying partner to the Falcon Fund. We target companies with a solid pipeline to deals and a proven track record of purchasing and servicing portfolios. As a leader in the Canadian ARM industry for over 20 years, Nick and his team at FDR fit the bill. We look forward to a long and mutually profitable relationship” remarked Flock Advisors Managing Director Michael Flock.

About Financial Debt Recovery Limited
Financial Debt Recovery is a single source provider for all corporate credit and receivable management needs, focused on collection services for accounts at all placement levels including debt purchasing and selling. If you would like further information please email Andy at andywood@fdr.on.ca or call at 905-771-6000.

About Flock Advisors
With a focus on the credit, collections, debt buying, and business process outsourcing industries, Flock Advisors maximizes value through a unique combination of operating experience, relationships, quality execution and M&A expertise. Whether it’s selling a company, buying a company, raising capital or transforming a business, Flock Advisors provides more than a transaction. For more information, contact Michael Flock, 770.644.0851, or Don Hilbert, 770.644.0852