VANCOUVER, Wash., July 27, 2021 /PRNewswire/ — Professional (formerly Professional Credit & Ensource), one of the nation’s top providers of first- and third-party accounts receivable management services has received a strategic investment from Tonka Bay Equity Partners LLC (“Tonka Bay”). Corporate Advisory Solutions served as advisor to Professional.
Professional delivers value-added accounts receivable management services to their healthcare, governmental and utilities client base. Professional combines innovative proprietary technology, industry-leading compliance, and best-in-class customer service. Tonka Bay sees the future of this industry as driven by high touch, high tech companies like Professional.
The leadership team, staff, and service offerings are unchanged: Professional Credit services and Ensource early-out services will remain intact as distinct service lines under the newly rebranded common umbrella, Professional.
“We are excited to join forces with Tonka Bay to fuel our efforts of expanding Professional’s reach in the industry and provide greater value to our existing clients through ongoing investment in our consumer-centric services,” said CEO and Board member Joe Hawes. “We believe technology is the key to a much-needed transformation in this sector. Tonka Bay will be an invaluable partner in executing our vision for the future of A/R management.”
Steve Soderling, Partner at Tonka Bay, stated “We are excited to partner with the deep and talented team at Professional. They have built an impressive company with a scalable technology platform which we and the team are eager to take to the next level. We are excited to help further expand their geographical reach and customer base.”
Tonka Bay Equity Partners invests in companies that are pursuing the next level of success. Their strategy-based focus and belief that proactively seeking partnerships with business owners is a vital component of investing, assists them in developing successful targeted industry-specific investment initiatives. Their patient, personalized and collaborative approach has yielded superior returns for investors and management partners alike.
According to Professional’s president, Scott Purcell, “This is a perfect match. Our two organizations share common values and demonstrate unique areas of strength that can only make us better. I am eager to witness this new partnership unfold.”
Professional makes the lives of providers and consumers easier by incorporating innovative tools, behavioral science and analytics to improve financial engagement and resolve financial obligations. With more than 85 years of experience, Professional is an industry leader in accounts receivable management, offering services under two service lines, Professional Credit services and Ensource early-out self-pay services, that yield higher than expected results while treating consumers with the utmost respect. More information at professionalcredit.com.