American InfoSource LP, a Houston-based global financial services firm, on Thursday announced the acquisition of Ascension Capital Group Inc. (ACG), the bankruptcy servicing arm of debt buyer Encore Capital Group. Financial terms of the deal were not disclosed.
Encore Capital last week announced it sold Ascension Capital because of uncertainty over a client’s contract renewal (
"ACG offers a secured bankruptcy solution which is an ideal complement to our current business,” Blake Hogan, president of American InfoSource, stated in a news release. “By blending their expertise with our bankruptcy data, servicing technology and brand protection programs, we have solidified our position as the leading servicer of consumer bankruptcy debt.”
American InfoSource currently handles unsecured bankruptcy functions for several large U.S. financial institutions. ACG's platform gives American InfoSource the operational and legal resources needed to offer best-in-class portfolio servicing to secured lenders, according to the release.
“This truly is a game changer for American InfoSource,” continued Hogan. “We are now uniquely positioned to execute servicing agreements on both secured and unsecured portfolios in an effective, compliant and profitable manner for our clients.”
