Acquisition Announcement

Acquisition Announcement


Gatestone & Co. Inc. (Gatestone), announces in a joint press release with Alorica that it has acquired all of the outstanding shares of NCO Financial Services, Inc. (NCO), 1st and 3rd Party collection business operating in Canada. Gatestone also acquired certain segments of Third-Party non-healthcare operations of Global Receivables Solutions, Inc. (GRSI) handled in Omaha, NE and Fredericksburg, VA.  This transaction represents a unique and significant opportunity to enhance Gatestone’s growth and advance the Company’s strategic focus on growing its core business worldwide.

Gatestone, a global leader in the Accounts Receivable Management, Customer Service and BPO markets, has been operating since 1978. This acquisition is a positive, strategic fit which further strengthens Gatestone’s business model and adds significant scale to our operations and service offerings. Gatestone will be adding all of the GRS employees to its U.S. employee base from their existing sites and we look forward to welcoming the NCO employees who are making the transition to Gatestone.

NCO, originally established in 1927, was an Accounts Receivable Management leader and pioneer, and their business model was the benchmark used by many credit executives in the industry. NCO’s tenured and experienced leadership team and staff was led by Pat Di Franco who holds over 25 years experience in the industry.  Mr. Di Franco has joined Gatestone and will continue to manage and be responsible for the acquired Canadian operations.

Nicholas Wilson, Chairman and CEO of Gatestone stated, “This is a tremendous opportunity for Gatestone as we pursue new global opportunities to grow our business, while improving the profitability of our existing clientele.  The core values that are synonymous to our company and its brand shape the way we run our business and these values will continue to guide us as we look to the future.”