Transworld Systems Inc. continued its 2019 buying spree, announcing yesterday that it had acquired Alltran Financial Services.
Terms of the deal were not disclosed.
This is at least the third acquisition for Transworld this year. In April, it purchased the financial services business of Altisource Portfolio Solutions for $44 million. A month later, it announced the acquisition of the collection portfolio of Credit Bureau of Lancaster County. Terms of that deal were not disclosed.
Alltran has approximately 900 employees in three offices spread across the southwestern United States. It has one office in Houston, one office in Tulsa, and one office in Bryan, Texas. The company says it manages more than $600 million in receivables across 180,000 accounts. It offers first- and third-party collection services in the financial services, automotive, debt buyer, and marketplace lending industries. It recently announced that it had received an award for being an outstanding partner of Toyota Financial Services.
Transworld says on its website that it has more than 2,400 employees working in 18 different locations and servicing a collection portfolio of more than $25 billion.
“The acquisition of the Alltran Financial Services business expands TSI’s customer base with leading U.S. banks and consumer financial services companies. We look forward to a smooth transition and we welcome the Alltran Financial Services customers and employees to the TSI family,” said TSI Chief Executive Officer Joseph Laughlin, in a statement announcing the acquisition.
The deal is expected to close in the first quarter of 2020.
Transworld provides outsourced accounts receivable management, healthcare revenue cycle management, customer relationship management, and loan servicing solutions to Fortune 100 corporations, hospitals, financial institutions, governmental organizations, and small businesses.