Hollis Cobb’s M&A Strategy: To Become a Leading Provider in Collection Services in the Markets We Serve.
Hollis Cobb Associates is pleased to announce the addition of a Mergers and Acquisition strategy to their already significant Organic Growth strategy. Over the past four years Hollis Cobb has added four agencies under its corporate umbrella. This has enabled the Hollis Cobb brand to expand into new markets and new geographies. The company continues to seek out agency owners looking to exit the industry and become part of the Hollis Cobb team. The following are the agencies that have been acquired by Hollis Cobb Associates:
Diversified Accounts Systems
Two friends, with multi-faceted experience in the collection industry, combined their talents in 1975 to start Diversified Account Systems. Jon Dunn and Joe Adamson opened the company in a rented house owned by Joe’s cousin, and located across the street from Morrow City Hall in suburban Atlanta. Some of the very first clients included Southern Regional Medical Center, DeKalb Medical Center and Atlanta Allergy Clinic. In 1996 Jon was voted president of the American Collectors Association. Under his leadership, the organization expanded worldwide and changed its name to ACA International. Jon’s long friendship with Alan and Mike Cobb made Hollis Cobb Associates an obvious choice to take over DAS when Jon was ready to retire in 2013. DAS employees have transitioned well to their new employer and the DAS clients are enjoying the benefits of Hollis Cobb’s leading-edge technology.
Bibb Collection Service
A well respected company in Macon, Georgia for half a century, Bibb Collection Service was owned by Earl Bibb. Bibb’s clients ranged from the second largest hospital in the state, Medical Center of Central Georgia, to the local water authority. Upon Earl’s retirement in 2013, Hollis Cobb Associates acquired Bibb and continues to work with the healthcare clients in middle Georgia bringing their service offerings into the digital age.
Bonded Collection Corporation
Bonded Collection Corporation, a long-time industry leader, was founded and operated by the Rubin family in the Commercial Debt Recovery Industry. Bonded has been performing these services for over half a century with an outstanding reputation in the industry in reaching the performance goals set by our clients.
In 2012, Hollis Cobb purchased Bonded Collection Corporation in Chicago. Third generation operator, Ken Rubin, joined the Hollis Cobb team as CFO and brings with him several strong relationships in the commercial space.
The expansion begins with over 200 employees and centers on recent acquisitions in Chicago and Medcore Collections, Inc. in Mobile, AL.
Medcore Collections, Inc.
Medcore, previously owned by SSI, blends nicely with Hollis Cobb’s healthcare receivables management stake. This acquisition brings with it several key clients and other relationships that will serve to embolden the Hollis Cobb brand.
Establishing a foothold in these locations builds upon Hollis Cobb’s strategy of “committing to locations with a long history of quality employees who can best serve our clients”, according to Greg Hocutt, President and Chief Executive Officer of Hollis Cobb Associates, further adding “Hollis Cobb prides itself on offering extremely competitive salaries and aggressive bonus plans with some of the best benefits in the industry along with significant career advancement opportunities.”
Once fully staffed, Hollis Cobb Associates will boast a worldwide headcount approaching 350 people across four locations including 35 collectors in Managua, Nicaragua. “None of this would be possible without the great partnerships we have developed with our hospital clients over the years. We like to establish employee bases within a logical reach of our largest clients, and this announcement furthers that effort” according to Alan Cobb, Chairman of Hollis Cobb Associates.
“With our significant new expansion comes the need for more experienced collectors and the commensurate collection management team. We bring a unique culture and a high level of customer care to our new partners”, said Alan Cobb, Chairman. Greg Hocutt, President and Chief Executive Officer added, “This new expansion positions us to be one of the leading providers of collection services in the markets we serve. We expect the expansion to be complete by the end of Q3 2015.”
