Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Encore’s success and growth are driven by its deep commitment to conducting business ethically and in ways that support its consumers’ financial recovery. The company’s sophisticated analytics, broad investment in data and behavioral science, plus its highly-efficient operating model and proven investment strategy, has provided Encore with a significant competitive advantage.
Through its subsidiaries, including Midland Credit Management, the Company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. In 2011, Encore and Midland Credit Management unveiled the industry’s first and only Consumer Bill of Rights, which codifies the Company’s commitment to respectful consumer treatment.
In May 2012, Encore Capital acquired Propel Financial Services, LLC, a leader in the tax lien acquisition industry. The acquisition of Propel represents Encore’s expansion into secured assets and enables Encore to expand its work with financially stressed consumers and to help a new group of people work toward financial recovery. Today, through its Propel Financial Services, LLC subsidiary, Encore assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans, and purchases delinquent tax liens directly from select taxing authorities.
In June 2013, Encore acquired Asset Acceptance Capital Corp and all operating subsidiaries of Asset Acceptance. Through this acquisition, Encore increased its portfolio and extended its industry-leading Consumer Bill of Rights to millions of additional consumers on their way to financial recovery. Combined, Encore and Asset Acceptance have purchased over 60 million individual consumer accounts, including credit card, telecommunications, consumer loans and other related assets, with a face value of over $130 billion. Additionally, Asset Acceptance has a well-established internal legal group, which will accelerate Encore’s internal legal initiative and bring more advanced technological capabilities to Encore.
In July 2013, Encore closed its acquisition of a controlling stake in Cabot Credit Management. The partnership brings together two market leaders and provides Encore the opportunity to deploy capital in the largest debt purchase market outside the United States. Through its Cabot Credit Management subsidiary in the United Kingdom, Encore is a market-leading acquirer and manager of consumer debt in the United Kingdom and Ireland.
Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P SmallCap 600, and the Wilshire 4500. More information about the Company can be found at www.encorecapital.com.
The Company’s operations include sites in San Diego, CA; Phoenix, AZ; St. Cloud, MN; San Antonio, TX; Warren, MI; New Freedom, PA; Tampa, FL; New Delhi, India; and San Jose, Costa Rica. We currently have more than 3,300 employees worldwide, and possess a large third-party network of collection agencies and litigators throughout the United States.
We help people recover from financial difficulty and turn toward a path of economic empowerment. We believe this can only be achieved through mutual engagement, understanding, collaboration and respect between our company and consumers.
We have an unwavering commitment to operate with integrity and treat people fairly as demonstrated through our industry-first Consumer Bill of Rights. We are also dedicated to better understanding financially distressed consumers and developing innovative ways to support their financial recovery, which is the focus of our Consumer Credit Research Institute. Our business success is a direct result of each of our people doing the right thing every day and is predicated on holding ourselves to the highest ethical standards when partnering with our consumers, stakeholders and community.
To succeed, we manage by a short, but important list of values: