Indian BPO Giant Acquires US Collection Agency BCR

Aditya Birla Minacs, an Indian business solutions provider, announced Wednesday the acquisition of Minnesota-based collection agency Bureau of Collections Recovery (BCR). Terms of the deal were not disclosed.

Minacs had already launched a fledgling ARM unit, with collection call centers in Jamaica, India and the Philippines. With the acquisition, Minacs’ clients will now have access to BCR’s team of collections experts, proprietary technology and experienced top management. Marty Sarim, President & CEO of BCR, will now take over as Global Practice Leader for Accounts Receivables Management at Minacs.

BCR established itself in the debt collection market with a strong base of marquee clients in the banking, financial services, and telecom sectors, providing services in first-party, early-out, and third-party collections across various stages of delinquency, as well as in pre charge-off, primary, and secondary post charge-off collections. The company has a headcount of around 600 at two offices in Minnesota and one in India, according to Indian publication Business Standard.

According to Mark Russell, Director at Kaulkin Ginsberg — the ARM strategic advisory firm representing BCR in the transaction — “Aditya Birla Minacs is the ideal strategic buyer for BCR, as they can leverage BCR’s existing client base, proprietary technology and operational infrastructure to generate substantial growth opportunities.”

“This is Minacs’ second acquisition in three months and demonstrates our commitment to the strategic mission of building new capabilities,” said Deepak Patel, CEO of Aditya Birla Minacs. “In addition to its proven expertise, BCR has a very strong operating model with a consistently growing top and bottom line. Its capabilities are adjacent to Minacs’ core customer lifecycle services and enhance our ability to successfully win and deliver end-to-end solutions to our clients.”

Blake Rice, Founder of BCR who is exiting the company added, “I am delighted to see BCR become part of a global growth engine, and am confident that together BCR and Aditya Birla Minacs will bring long-term shareholder value.”

After the acquisition, BCR will operate as a subsidiary of Aditya Birla Minacs. BCR’s centers in Eden Prairie and Willmar, Minn. will join Minacs’ global network of 30 delivery centers across 3 continents delivering business solutions to its clients.