LAKE FOREST, Ill., Dec. 3, 2019 /PRNewswire/ -- Transworld Systems Inc. ("TSI" or the "Company"), the leading analytics and technology driven provider of accounts receivable management, healthcare revenue cycle and loan servicing solutions, announced today that TSI and certain affiliates entered into a definitive agreement with Alltran to acquire its Financial Services business. Transaction terms were not disclosed.
Alltran Financial Services is a first- and third-party accounts receivable management provider for the financial services, automotive, debt buyer, and marketplace lending industries, with approximately 900 employees working from three operations centers located in the southwestern United States.
"The acquisition of the Alltran Financial Services business expands TSI's customer base with leading U.S. banks and consumer financial services companies. We look forward to a smooth transition and we welcome the Alltran Financial Services customers and employees to the TSI family," said TSI Chief Executive Officer Joseph Laughlin.
The acquisition is expected to close in the first quarter of 2020 and is subject to customary closing conditions including regulatory consents. Houlihan Lokey Capital, Inc. provided financial advisory services for Alltran.
About Transworld Systems Inc.
Transworld Systems Inc. (TSI) is the leading provider of outsourced accounts receivable management, healthcare revenue cycle management and loan servicing solutions. TSI uses proprietary predictive analytics and market-leading digital channels to collect on consumer and business debt to help its clients accelerate cash flow and improve operational efficiency. TSI's clients include Fortune 100 corporations, hospitals, financial institutions, governmental organizations, and small businesses.
Chief Financial Officer
Transworld Systems Inc.
SOURCE Transworld Systems Inc. (TSI)