Strategic Acquisition of Altus to Drive Significant Future Growth
NEW ORLEANS, LA
The Altus Global Trade Solutions (Altus) Senior Management team, in partnership with NewSpring Capital, Evergreen Industries, and Spring Capital Partners, announces the purchase of Altus from French parent company Natixis. Corporate Advisory Solutions served as advisor to Altus. BakerHostetler served as counsel to Natixis. Blank Rome served as counsel to NewSpring Capital, Evergreen Industries and Spring Capital Partners.
“This partnership is a significant step into the future for Altus,” said corporate President, Tom Brenan. “It provides the opportunity to accelerate our continued growth trajectory by bringing resources to support technological innovation, enhanced customer service capabilities, and selective merger and acquisitions activity.”
Altus’ five-year growth plan calls for doubling the current corporate footprint; an achievable target given the capabilities of the existing platform coupled with the growth opportunities in today’s market.
“NewSpring Capital and Spring Capital Partners recognized Altus as an industry leader with strong management and significant growth potential,” added Andrew Panzo, NewSpring Capital General Partner. Together with Evergreen, we will assist management to successfully capitalize on Altus’ strategic growth initiatives in order to provide their customers with broader, more extensive coverage and consistent, world-class service levels.”
“NewSpring Capital, Evergreen Industries and Spring Capital Partners are knowledgeable investors with significant experience in the financial services sector,” said Brenan. “We look forward to working with our new equity and financing partners as we continue to deliver value for Altus clients and shareholders.”
Specifics of the acquisition call for the current Altus GTS corporate leadership team and staff to remain in position, and the array of accounts receivable management services provided will be expanded and optimized.
Altus provides commercial debt recovery services to more than 100,000 customers in the United States and abroad. The company is a comprehensive, full service commercial receivable management agency offering receivable management outsourcing, domestic and international commercial collections, audit collection, and business receivable management training.
Altus is fully licensed and bonded in all required jurisdictions. The company is a member of the Commercial Law League of America, the Commercial Collections Agency Association of the Commercial Law League of America, and a member of the International Association of Commercial Collectors.
Founded in 1994, Altus is headquartered in Kenner, La., with branch offices in Colorado, Washington and New Jersey and Affiliate offices in Delaware, Washington State, Arizona and Iowa. Visit us at www.trustaltus.com.
About NewSpring Capital
NewSpring Capital is a leading provider of private equity capital focused in the Mid-Atlantic region. The Firm manages approximately $1.5 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. NewSpring Capital combines deep operating knowledge with financial and investing expertise to provide growing companies the financial resources, advice, network of contacts and strategic partnerships necessary to develop their businesses into market leaders. This philosophy has been a key tenet of NewSpring Capital’s approach and the success of its current and former portfolio companies demonstrates the Firm’s commitment. To learn more about NewSpring Capital, please visit www.newspringcapital.com.