ATLANTA, Jan. 22 /PRNewswire/ -- Atlanta Equity Fund, LP ("Atlanta Equity") announced today its affiliate has acquired Consumer Financial Services, LLC ("CFS"). Southport, Connecticut based CFS, owned by founder Martin Melson and other members of the Melson family, is a leading provider of delinquent secured accounts receivable resolution services, providing both secured commercial lenders and original equipment manufacturers nationwide with a variety of highly tailored debtor identification, account negotiation, and collateral recovery services in connection with delinquent account debtors located throughout North America.
Gerry Benjamin, Atlanta Equity Co-Managing Partner, commented, "My partners and I look forward to working closely and partnering with Doug Melson and the CFS management team to expand upon CFS' industry leading customer service model." Doug Melson, the CFS Chief Operating Officer who will continue as the Company's President, added, "We are excited to partner with Atlanta Equity to expand the CFS platform in response to the growing needs of our customer base. The transaction with Atlanta Equity provides CFS with the capital and board level support to allow the Company to continue aggressively expanding its service capacity, while facilitating the investments in technology and human resources necessary to further distance CFS from its competitors." Michael Levison, formerly CEO of Atlanta based Coverdell & Company and the former CEO of ReMark Americas, joined CFS as its CEO upon the closing of the transaction. Levison noted, "I am excited with the opportunity to partner with Atlanta Equity, Doug Melson, and the great team of professionals which CFS has assembled as we work to take the business to the next level. Having worked exclusively in the financial services industry for the past 25 years, I find the CFS value proposition to be unusually compelling. I know that working together we will grow CFS appreciably." CFS was founded in 1996 by entrepreneur Martin Melson, who will continue to serve as a CFS Board Member and strategic advisor to the Company.
Arnall Golden Gregory LLP served as legal counsel to Atlanta Equity, with acquisition financing provided by Branch Banking and Trust Company and Peachtree Equity Partners. Whitman Breed Abbott & Morgan LLC served as legal counsel to CFS and the Melson family in connection with the transaction.
About Atlanta Equity
Atlanta Equity is a private equity firm with $109 million in capital under management, focused on making investments in growth companies primarily in the Southeast. Established in 2007, Atlanta Equity focuses on deploying capital in lower middle market companies with revenues between $20 million and $200 million and EBITDA greater than $5 million. The firm particularly favors investments in business and healthcare services, specialty manufacturing, technology, consumer products and services, and selectively retail.
For more information please visit www.atlantaeq.com.
About Consumer Financial Services
Established in 1996 and headquartered in Southport, Connecticut, CFS provides leading secured commercial lenders and original equipment manufacturers nationwide with a variety of highly tailored debtor identification, account negotiation, and collateral recovery services in connection with delinquent account debtors located throughout North America. The Company's contingency based outsourcing service model offers its customers an unusually compelling value proposition in cost effectively achieving delinquent secured accounts receivable resolution.
CONTACT: Robert Annas, 404-478-6774, email@example.com
SOURCE Atlanta Equity Fund, LP