Computershare Limited (ASX: CPU), a leading financial services provider for the global securities industry, today announced that it has agreed to acquire Kurtzman Carson Consultants LLC (KCC), pending regulatory approval.
KCC is a leading claims and noticing agent that provides administrative-support services and technology solutions to companies undergoing a corporate restructuring or chapter 11 bankruptcy proceedings.
KCC's unique approach to providing claims administration services -- and other ancillary services -- has allowed it to realize significant market recognition and leadership. KCC has also realized other top honors: #42 in the 2006 Inc. 500 ranking of fastest growing companies, 2008 Ernst & Young Entrepreneur of the Year of Award for Greater Los Angeles, and one of the 2008 Best Places to Work in LA recognition by the Los Angeles Business Journal.
"This acquisition is quite significant for Computershare and the marketplace. KCC's corporate culture, technology-based service offering and unique position in an expanding area of the market offers a strategic complement to our business. Computershare will also realize synergies with the addition of production facilities in Los Angeles and Memphis, and we will further expand our market in such areas as bankruptcy, proxy, class actions and escrow," said Steve Rothbloom, President and CEO of Computershare US.
"This marks a significant turning point at KCC. It represents the culmination of our vision to bring higher standards to the claims and noticing market and diversify KCC into a BPO (business process outsourcing) provider to the broader legal and financial services market," said Eric Kurtzman, KCC's Co-Founder and CEO. "Computershare offers significant resources and experience that will enable KCC to maximize its opportunities and provide significant contribution to Computershare for years to come."
"We foresee great harmonies between KCC and Computershare that will fulfill our vision to diversify and create a sustainable, high-growth, high- value business," said Jonathan Carson, KCC's Co-Founder and President. "Today, legal and financial professionals in the corporate-restructuring market expect a higher standard of service, world-class technology and relevant industry expertise from their claims agent because of KCC. We will continue to build upon this model to realize the business's true market potential."