Daily News: August 1, 2013

FLOCK Launches Specialty Finance Company for Debt Buyers


FLOCK Advisors, a financing group to middle market debt buyers and collection agencies, has raised a new round of capital with a group of institutional investors that will expand Flock’s ability to offer creative financing solutions for debt portfolio purchases, refinancing, and strategic balance sheet reengineering.

As a result, FLOCK has launched a new company called FLOCK Specialty Finance, and will expand its staff in the months ahead.

The company said FLOCK Specialty Finance’s new round of capital expands its ability to offer creative financing solutions for debt portfolio purchases, refinancing, and strategic balance sheet reengineering for middle market debt buyers and collection agencies. The funding will provide FLOCK with the potential purchasing power of $350 million over the next three years.

The new capital structure gives founder Michael R. Flock and his team new capabilities for deeper lending relationships typically offered by specialty finance firms. Middle market debt buyers and collection businesses will now have a financing source that will help them navigate the turbulent changes affecting the industry.