IRMC Raises $50 Million of Equity Capital

IRMC, a premier provider of customer management solutions, today announced an equity investment of over $50 million by a consortium led by Guggenheim Partners, a diversified financial services firm with approximately $100 billion of assets under management.

The investment will be used to reduce IRMC’s outstanding debt, as well as to support its investments in technology and offshore expansion.

“IRMC has effected a remarkable turnaround, and is poised for takeoff,” said Todd Boehly, Managing Partner of Guggenheim Partners. “We have tremendous confidence in the company’s leadership and strategy, and expect the company to be a pace-setter in the industry in years to come. We are excited to be part of its growth plans.”

Boehly has been invited to join the Board of IRMC, alongside the existing investor group led by Harvest Partners, a New York-based private equity firm.

“This investment further strengthens our balance sheet,” said Vikas Kapoor, President and CEO of IRMC. “Over the last year, we have cut our debt service costs almost in half. We are very excited to have the financial backing to fuel our growth.”

IRMC optimizes performance for its clients through the application of leading-edge portfolio management and analysis, state-of-the-art technology and the global allocation of work geared to a client base that has complex customer needs.

Guggenheim Partners provides distinctive investment management and investment advisory services to sophisticated individuals, foundations, endowments, and institutional investors throughout the Americas, Europe and Asia.

Harvest Partners is a leading New York-based private equity investment firm, pursuing management buyouts and growth financings of profitable, medium-sized businesses and currently has more than $1 billion of invested and committed capital under management from its limited partners. Since 1981, Harvest Partners has sponsored and provided equity financing to over 60 companies, many of which are now leaders in their industries.

IRMC provides client solutions through its global call center network of nearly 6,000 employees. With an experienced management team and top-tier investors, IRMC is a fast-growing company with expansion plans in North America, Europe and Asia.

The IRMC family of companies is united in a corporate vision and mission, while maintaining unique company names, including: Allied Interstate and First Contact in the United States; CBCL in Canada; Legal & Trade Collections, Legal & Trade Financial Services, Reachflow and Revenues Management Services in the United Kingdom; IntelliRisk Philippines, Inc. in the Philippines; and IntelliRisk Management India Pvt. Ltd. in India.