After receiving an injection of private capital, Altus Global Trade Solutions, of Kenner, a commercial debt collection agency, plans to double its corporate footprint — including adding 100 new local jobs — as the firm looks to expand over the next five years.
Altus was acquired late last month by NewSpring Capital, Evergreen Industries and Spring Capital Partners, according to Altus President Tom Brenan.
Founded in 1994, Altus has about 105 employees in Kenner, and Brenan expects that figure will rise to 200 in five years. By then, Brenan expects the company will have 400 employees nationwide.
Altus provides commercial debt recovery services to more than 100,000 customers in the U.S. and abroad.
Brenan declined to specify financial terms of the deal, which call for Altus’ corporate leadership team and staff to remain in place. NewSpring Capital, in a news release touting the acquisition Tuesday, said the firm invested $12.8 million.
Altus had almost $28 million in revenue in 2015, Brenan said. As it expands over the next five years, Altus will look to double that number as it works to expand the business through its affiliate program, which targets small- and medium-sized collection agencies, as well as through select mergers and acquisitions.
The commercial debt collection industry “is very fragmented,” Brenan said, a factor that has created opportunities for larger firms like Altus.
“The industry is ripe for consolidations,” he said.
Altus was acquired from the French company Natixis.
Follow Richard Thompson on Twitter, @rthompsonMSY.