AMPAC Debt Recovery Pty Ltd (AMPAC) is pleased to announce the acquisition of Shield Mercantile Pty Ltd (Shield) effective 8th September 2020.
In March 2020, the directors of Shield placed the company in administration, the purpose of which was to allow the company some breathing space in order to restructure. Throughout the process, the administrators continued to trade the business and support its client base, whilst conducting a marketing campaign to find a suitable buyer. On 12th June the creditors of Shield voted in favour of a Deed of Company Arrangement (DOCA) proposed by a consortium led by AMPAC which ultimately resulted in Shield becoming a member of the AMPAC Group of Companies.
Importantly, Shield comes out of administration financially sound, backed by the management and resources of AMPAC, and able to continue providing the high level of service and excellent results for which it is renowned. The business of Shield will continue as usual. The company will not be changing its name or its way of doing business, and will continue to operate from its premises in Parramatta and Melbourne CBD. Over the years Shield has developed an excellent reputation as the preferred provider of debt recovery services to many major banks and finance companies seeking to recover consumer debt on a contingency (commission) basis, or through the sale of debt ledgers.
The businesses of AMPAC and Shield complement each other in many ways, and this acquisition adds scale and capacity to the AMPAC Group, enabling it to compete more effectively in all aspects of the Australian debt recovery market. AMPAC specialises in the recovery of primary debt in the business to business (B2B) sector, acting for small, medium and large clients across a wide range of industries including construction, manufacturing, local government, education, wholesale and distribution, business and professional services, insurers (including credit insurers) and strata managers. Shield specialises in the recovery of primary, secondary and tertiary debt in the business to consumer (B2C) market on behalf of financial institutions and has been a leader in this market for over 20 years. In addition to recovering contingent debt, Shield is also the holder of an Australian Credit Licence (ACL) which allows it to purchase high volume debt ledgers from banks and other financial institutions.
The operations of both AMPAC and Shield are characterised by low staff turnover, long-term client relationships, performance based cultures and a strong emphasis on compliance, customer service and industry participation and support. The acquisition of Shield uniquely positions The AMPAC Group to assist the credit community, and at the same time, take advantage of opportunities that will arise in the ordinary course of business and as a result of COVID-19 in the commercial, consumer and debt purchase markets throughout Australia.
For further information about this announcement, or the services of AMPAC or Shield, please contact Mark Logue on 0409 749 709 or m.logue@4ampac.com.au
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