Business solutions company Aditya Birla Minacs, a subsidiary of Aditya Birla Nuvo, has strengthened its presence in the debt collection industry with the acquisition of the US-based Bureau of Collections Recovery.
With this acquisition, Aditya Birla Minacs, which has business solutions in the BFSI segment, will have access to 16 of BCR clients. Recovery is a $12-billion market growing at 12 per cent and is a profitable business. It's also complementary to what we have already been doing, Mr Deepak Patel, CEO, Aditya Birla Minacs, told Business Line. The company, however, did not disclose the financial details of the deal.
The recovery business requires companies to have licences in each of the States in the US that they would be operating in. If we have to grow organically, we have to start from scratch whereas BCR has come with all these licences and makes it easier for us, Mr Patel said.
BCR is a 25-year-old company which has used technology in the recovery and collection business. With this acquisition, BCR will operate as a subsidiary of Aditya Birla Minacs. BCR's centres in Eden Prairie and Willmar, Minnesota will join Minacs' global network of 30 delivery centres across three continents delivering business solutions to its clients.
BCR posted an annualised revenue of $20 million. Aditya Birla Minacs now employs close to 16,000 people.