HandsOn Ventures acquires Imperial Collection Service

August 16 , 2005, Mumbai – HandsOn Ventures LLC, (HandsOn), a US based private equity firm, announces the acquisition of Imperial Collection Service (“ICS”). Imperial Collection Service, a subsidiary of Glen Daniels Corporation was incorporated in April 1992 and since then they have been specializing in bank credit card segment and provide secondary collection, tertiary collections, late stage recoveries, advanced skip tracing and bad debt purchase consignment services.

ICS is a premier provider of bad debt recovery services, a top tier performer, recognized by international banks and debt purchasers. Its success has been in developing a business strategy that focuses on core expertise: a unique ability to effectively work high balance, tough-to-collect consumer debt, including skip accounts. The results, long-term relationships with banks, credit card companies and automobile finance providers.

This move by HandsOn is in line with earlier acquisitions of national and international consumer debt collection companies in the Finance and Accounts sector.

About Imperial Collection Service – Since inception in 1992, Imperial Collection Service has distinguished itself as a premier provider of bad debt recovery services to the consumer lending industry. Its clients range from local retailers to Fortune 500 ® companies. Their expertise comes from motivated teams who hold a strong high standard of service and liquidation recovery that international banks recognize as first place or top tier.