National Asset Recovery Services, Chesterfield, Mo., a provider of call-center, debt-collection, accounts-receivable and other outsourced business-process services, has acquired Pinnacle Financial Group, Minneapolis, a provider of third-party debt collection services for healthcare and other industries, according to a news release from H.I.G. Capital, Miami, a private-equity firm that owns NARS. Financial terms of the deal were undisclosed.
The combined companies will employ about 3,500 people at seven call centers: five in the U.S. and two abroad, in Panama and Jamaica, according to the release.
Pinnacle CEO Tony Michel will stay on in an unspecified leadership role, according to the statement. The company's three U.S. sites will continue to operate under the Pinnacle name.