NEW YORK--(BUSINESS WIRE)--Cadex Solutions Corporation ("Cadex"), in partnership with Trivest Partners LP ("Trivest"), is pleased to announce it has acquired Receivables Control Corporation ("RCC"). Founded in 1970, RCC is a trusted leader in global commercial debt recovery that offers a comprehensive suite of accounts receivable management solutions, including pre-collections, first-party and third-party collections, commercial asset recovery and liquidations, and consulting services.
Headquartered in Maple Grove, MN, RCC has built a reputation for delivering outstanding recovery results and guidance to its diverse portfolio of over 200 clients. The core of RCC's approach is based on a firm commitment to recruiting and developing its collectors, who bring decades of experience, success, and a passion for the work. This commitment is matched by an unwavering emphasis on inventory management and collection work standards. Additionally, RCC leverages its management's subject-matter expertise to provide portfolio insight and process enhancement recommendations to its clients.
The RCC acquisition expands Cadex's capabilities to build the premier commercial order-to-cash management solutions provider. RCC enhances Cadex's client portfolio, financial performance, and operational excellence in third-party commercial collections and asset liquidations within the company's Order-to-Cash service offering.
“I have been blessed to work with the most energetic and loyal group of people at RCC for over 40 years, so entrusting someone with my team and company was emotionally and psychologically challenging, to say the least," said Luke Vidor, RCC President/CEO. "Cadex's CEO, John Fisher, is someone I have known for 20 years, so I was able to have frank discussions about the continued growth opportunities presented to RCC as part of Cadex. I needed to find a well-respected and well-managed buyer who aligned with RCC's values. I found that with Cadex and Trivest, and I could not be more excited about the future of the RCC team!"
Forest Wester, Managing Partner at Trivest, stated, "We are pleased to welcome RCC to Cadex and Trivest. Luke's organizational stewardship and the RCC team's talent created the premier commercial collection agency in the US. It has been a pleasure working with Luke to help him realize his goals for RCC and its employees, including the second generation of Vidors who are helping to lead the company."
Cadex's CEO, John Fisher, added, "We are ecstatic to join forces with RCC, and I am privileged to have the opportunity to work with such a talented organization. Their unparalleled expertise, industry-leading practices, and passion for client recovery results will greatly enhance the depth of Cadex's service offering. Luke, the RCC leadership team, and I are also excited to offer their clients an expanded service offering, including global service delivery in collections, digital transformation capabilities, AI/ML, and order-to-cash outsourcing. Given the subject matter expertise of the RCC team, this transaction is a force multiplier for Cadex. The sky is the limit for what we can achieve for our clients worldwide!"
About Cadex
Cadex Solutions Corporation ("Cadex") is building the premier provider of commercial order-to-cash management solutions. By combining the power of people with cutting-edge technology, Cadex reduces the complexity of the life cycle between order placement and payment processing for clients worldwide. Cadex leverages its proprietary technology and 200+ years of combined experience to deliver efficient and effective custom solutions.
Cadex has over 900 employees serving 1,900+ customers in more than 30 languages across various business sectors and international locations, including the US, Colombia, Brazil, Romania, Italy, India, Singapore, and South Africa. Visit www.cadex-solutions.com to learn more.
About RCC
Founded in 1970 and headquartered in Maple Grove, MN, Receivables Control Corporation (RCC) is a trusted leader in global commercial debt recovery that offers a full range of personalized debt collection services to help businesses of all sizes increase cash flow and minimize bad debt expense. RCC operates with a higher standard, resulting in long-term client partnerships, constant referrals, and a 99.5% client retention rate. Visit www.rccmn.com to learn more.
About Trivest
Trivest Partners LP, with offices in Miami, Charlotte, Chicago, Denver, Los Angeles, New York, and Toronto, is a private investment firm focusing exclusively on supporting and growing founder-led and family-owned businesses in the United States and Canada in control and non-control transactions. Visit www.trivest.com to learn more.
