Inland Capital Services Acquires San Diego Collection Agency

Inland Capital Services (ICS) announced today that is has acquired the major assets of 70 year-old Maddocks Collection Service (MCS). The acquisition was made possible by a capital infusion arranged by LTS Investments and also enabled the combined companies to complete major infrastructure and technology upgrades.

ICS has begun migrating its collection accounts to GenesisCollect software by Amvensys Technologies, Inc. and the combined companies will now be headquartered at 663 Greenfield Dr., El Cajon CA 92021. The new headquarters offers a 30 seat capacity call center and management plans to bolster this capability with up to 50 seats located in Amvensys’ offshore call centers.

ICS will manage all collections operations under The Maddocks Collection Service brand and Inland Capital Services will operate as the brokerage arm facilitating the sales and acquisitions of charged off debt portfolios and Accounts Receivables Management Consulting.

The acquisition of MCS will help facilitate ICS’ move into the healthcare industry. Jerry Greenblatt, President of ICS comments that “Maddocks Collection Services’ long standing reputation and infrastructure made it a natural fit for ICS”, and believes the move will accelerate the company’s growth into the healthcare industry.

Greenblatt further stated, “With the acquisition of Maddocks the time was right for ICS to seek and implement new and better technologies”. The migration to GenesisCollect was necessary to sustain a high level of customer service without compromising liquidation. He believes it is important to be flexible and dynamic in order for collection agencies to continue to provide a high level of service and liquidation for their clients and still be able to grow during these challenging times. Greenblatt is extremely pleased that the total conversion time and call center setup was accomplished within one week with GenesisCollect.

Ed Lateef, CEO of Amvensys, stated, we are excited about the new business relationship with ICS "With GenesisCollect as a vendor-hosted system, ICS as well as other agencies can now focus on their core collection business and not worry about the escalating costs and upfront investment of IT and compliance to data security standards such as SAS70, HIPAA, etc. GenesisCollect added with Amvensys’ offshore call center capability will provide ICS and its other clients with flexibility to scale up and down their collection capability in this tough economy."

LTS Investments is a boutique investment firm servicing the needs of qualified investors, commercial/residential property owners and emerging growth companies in the areas of equity investments, commercial debt and real property transactions.

Inland Capital Services is a third party servicer specializing in the liquidation of purchased debt. ICS was founded to offer trusted collection solutions to, Debt Buyers, Credit Card Issuers, Finance Companies, Banks, Credit Unions and other grantors of consumer and commercial credit. In addition to its collection services the company offers brokerage services assisting in the sales and acquisitions of charged off accounts receivables portfolios utilizing its client base of over 4000 buyers and sellers. For more information on Inland Capital Services visit its website at http://www.inlandcapitalservices.com/.

Maddocks Collection Service, is a well known San Diego collection agency with a stellar reputation for over 70 years. MCS specializes in Medical Collections.

Amvensys Technologies, Inc is a leading provider of information technology, consulting and business process outsourcing services with headquarter in Houston, Texas. Amvensys provides offshore call center collection services with a strong North American presence currently specialized in the power utilities industry. With a strong focus on corporate values and culture, Amvensys is committed to long-term partnerships with our customers. Amvensys has recently acquired an end-to-end Customer Relationship Management (CRM) collection platform (Genesis) from Sourcecheck Ltd. Branded now as GenesisCollect, it is a comprehensive hosted collection solution including trust accounting, mailroom and credit grantor management for the debt collection industry. This strategic acquisition enables Amvensys to integrate its other offerings such as credit card and check processing, accounts receivables management and call center services as a unique one-stop service for collection agencies. For more information, please visit http://www.amvensys..com/