FOR IMMEDIATE RELEASE
CONTACT:
Jennifer McMullen
Kadent Corporation
Executive Director of Administration
610-378-5000,
x1040
Jen@teamkadent.com
Accounts Recovery Bureau Combines with CBSJ Financial
Corp.
Long-standing San Jose collection
agency combines with ARB to expand its West Coast presence and add scale
READING, PA, August 31,
2007 – Accounts Recovery Bureau, Inc. (“ARB”) a subsidiary of Kadent
Corporation, entered into a business combination with CBSJ Financial Corp. (“CBSJ”)
to transfer the management of CBSJ's San Jose collection agency
operation and its clients to ARB. The CBSJ transaction represents a
substantial expansion of ARB’s West Coast operations. The CBSJ San Jose
location will provide ARB with a new sales, client service and
operational office from which ARB and other Kadent companies may continue
to grow.
“I am pleased to
have selected ARB after a search to identify a collection agency with a
reputation that most closely fits CBSJ’s long-standing philosophy of client
service and consumer sensitivity,” said Theresa Jones, CBSJ’s owner. “I will continue to have an interest in
CBSJ’s business; however, the combination with ARB will now allow CBSJ to
access Kadent’s national resources and industry expertise, which I strongly believe
will further contribute to our clients' success.”
Bruce Colburn, President and CEO of Kadent added: “I
believe CBSJ is extremely well positioned in a critical area of the West Coast
market based on the relationships it has developed from providing consistent quality
client-tailored services year after year, including sensitive consumer
interaction, robust operational and financial reporting, and
better-than-average recovery yields.
Our combination strengthens both companies and I am delighted to be
associated with Theresa and the CBSJ team.”
ARB plans to continue to maintain CBSJ’s presence in the San Jose and surrounding markets, expand CBSJ’s client base and geographic reach and offer to clients in these markets other services provided by Kadent.
About Kadent
Kadent provides accounts receivable management services from its three principal businesses: business office solutions to the healthcare industry, including extended business office outsourcing (Kadent Healthcare), third-party collection agency services to the healthcare and other consumer industries (Accounts Recovery Bureau) and an array of related technology services (Kadent Technologies). Read more at www.teamkadent.com.
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