Private Equity Firm Takes Controlling Stake in BPO Player in Panama and Jamaica

NARS (National Asset Recovery Services), a BPO provider which employs over 3,000 people in two US sites and also sites in Panama and Jamaica, has accepted a “significant investment” from a private equity firm with the intent of growing the accounts receivable management activities of NARS, according to an announcement from the company.
The investor is H.I.G Capital, which controls more than $7.5 billion in equity capital and specializes in “providing capital to small- and medium-sized companies with attractive growth potential.”

Clearly, one of the major attractions of NARS was its client base, which according to industry insiders includes, JP Morgan Chase, GE and Sprint.

In the statement, H.I.S. executive Tim Bauer said, “NARS is the first piece of the Reprise puzzle. NARS CEO Chris Buehrle and his team have built an exceptional business. It’s on-shore / near-shore strategy is timely and efficient, and NARS is uniquely poised for additional growth.” Buehrle, the founder of NARS, and other top executives will remain with the newly formed company, according to the announcement.
NARS, based in St. Louis and founded 16 years ago, opened its Panama facility a little over five years ago and the site currently employs about 700 workers. Media relations director for NARS, Christine Cervellere, would not comment on the deal when reached live today by phone.
Clearly, one of the major attractions of NARS was its client base, which according to industry insiders includes , JP Morgan Chase, GE and Sprint. Debt collections and accounts receivable management continues to be a hot area of growth for nearshore providers as many US residents struggle to stay on top of bills during the current economic crisis.
Although debt collections can be done offshore, the time zone alignment of nearshoring plays to the advantage of Americas-based providers.
During its time in Panama, NARS has been active in the area of corporate social responsibility, helping to assist in the establishment and ongoing management of a burn unit treatment center which specializes in treating children.