MIAMI, November 14, 2011 /PRNewswire/ --
HIG Capital announced that its portfolio company, NARS ("National Asset Recovery Services, Inc."), has acquired Pinnacle ("Pinnacle Financial Group"), a leader in third-party debt collection services. Pinnacle is a leading ARM firm with a diverse, blue chip client base of hundreds of clients across a variety of end markets, including national bank/credit card issuers, healthcare, telecommunications, education, auto loans, consumer/retail and debt buyers.
The Pinnacle management team will continue with NARS and will play a leadership role in helping grow and operate NARS' existing third-party collection services. Pinnacle's three domestic sites, which will continue operating under the Pinnacle name, add expertise and depth to NARS' existing ARM operations. The Pinnacle acquisition will increase NARS' domestic footprint to five call centers, for a total of seven sites in the United States, Panama and Jamaica. The combined companies will employ nearly 3,500 people.
Pinnacle is the third recent ARM investment for H.I.G. Capital in collaboration with the Reprise Management Group ("Reprise"). Jeff Zanarini, Managing Director at H.I.G. Capital said, "This acquisition continues H.I.G.'s strategy of investing in high quality assets with excellent client relationships and strong management teams across the ARM sector."
H.I.G. Capital is a leading global private equity investment firm based in Miami. The firm has more than $8.5 billion of capital under management. H.I.G. specializes in providing capital to small and medium sized businesses and has offices in Atlanta, Boston, New York and San Francisco, as well as Hamburg, London and Paris in Europe.
Contact: Jeff Zanarini, Managing Director, Phone Number: +1-305-379-2322, Email: [email protected]
SOURCE H.I.G. Capital