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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