Collection House Limited (ASX:CLH) is pleased to announce it has acquired New Zealand-based Receivables Management (NZ) Limited ("RML") for a total cash consideration of NZ$14.1m (approx. A$13.4m). The consideration was funded from the Company's existing finance facilities.
RML is a top three purchaser of PDLs in New Zealand and one of the leading providers of consumer and commercial debt collection services in New Zealand, with 95 employees across three locations. With operations dating back over 30 years, we are delighted to report that the RML founder Bob Garters and key management personnel will be retained as part of the transaction.
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