São Paulo – CFI Brazil is pleased to announce they acted as the exclusive corporate finance advisors to GlobalCob in the sale of several collection portfolios related to Banco Votorantim (‘BV’), one of Brazil’s most important financial institutions, to Bellinati Perez and Aval “Buyers”.
GlobalCob is considered one of the main collection agencies of the southeast of Brazil, with several well known and respected clients of which BV is the most representative. BV is a well-known Brazilian Financial Institution specialized in used vehicle financing.
Before the transaction, GlobalCob was consistently ranked within the top 3 collection providers for BV’s collection portfolio. The transaction includes all of BV’s portfolios consisting of approximately 850 employees. The collection process involves contact centers using telephone calls, SMS’, e-mail’s, Whatsapp messages and online chat systems to negotiate and collect overdue debt. Additionally, the collection portfolios sold was composed of 270 thousand contracts under collection phase, including 70 thousand in credit cards, 100 thousand in mass collection, 77 thousand in administrative legal collection, 19 thousand in administrative collection and 24 thousand in purely legal collection (search, seizure and general lawsuits).
Bellinati Perez and Aval are two of the most important legal collection agencies in Brazil, grown local regional coverage and now present nationally in Brazil. Both Buyers are still owned and managed by the founding shareholder families. The addition of BV’s portfolio to both companies will further solidify their position as the leading collection agencies for financial institutions in Brazil.
The transaction closed on 9 October 2018.
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