Daily News: April 11, 2014

FLOCK Specialty Finance Closes Nelson Watson Sale

FLOCK Specialty Finance announced the successful sale of the assets of Nelson Watson to CBE Companies.

In an effort to grow market share and diversify its client base, Nelson Watson was seeking an acquisition partner whose capabilities and clients would create incremental value for the Nelson Watson ownership and growth opportunities for its people.

George Nelson III, CEO of Nelson Watson, said, “FLOCK organized and managed a sale process that was highly competitive and generated solid returns for the Nelson Watson owners. With CBE, our employees will have more job opportunities, and our clients will have access to a breadth of BPO solutions beyond third party collections.”

CBE Companies’ Chairman and CEO Tom Penaluna said, “CBE was very intentional in finding an acquisition opportunity with specific success criteria such as size of company, services and industries served, and long-term growth potential. Nelson Watson fit very nicely within this defined strategy, meeting the goals for cultural, performance and quality alignment with CBE.”

Nelson Watson, a collections agency based outside of Boston, specializes in pre-legal collection services for major financial institutions.

CBE Companies, based in Cedar Falls, IA, is a global business process outsourcing (BPO) organization.