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05.20.2010 / Michael Flock
Flock Advisors Announces Recapitalization of Velocity
 ATLANTA, Georgia, May 20, 2010 — Flock Advisors, an M&A advisory firm specializing in the collections, debt purchasing, and business process outsourcing industries, is pleased to announce the successful recapitalization of Velocity Portfolio Group, Inc., a debt buyer focused on a “legal first” strategy.
The Flock team led the recap of the existing inventory of portfolios which also included a line of credit to finance the purchase of new charged off credit card portfolios. A new private debt fund targeting $50 million to $100 million of debt financing, provided the capital for the transaction.
Jack Kleinert, founder and CEO of Velocity, said: “We are delighted to have access to this capital at a time when the debt purchasing markets are on the rebound.”
He added: “Michael Flock and Don Hilbert did an outstanding job of raising the capital and structuring the transaction. Their network of capital sources, their experience and financial expertise in the debt purchasing industry, and their ability to communicate the strengths of Velocity were instrumental in completing the transaction. This was quite a feat in a very tight credit market.”
Flock Advisors’ Falcon Fund also provided financing for Velocity’s debt purchases during the process.
For questions and additional information, please call Flock Advisors, either Michael Flock at 770-644-0851, mflock@flockadvisors.com, or Don Hilbert at 770-644-0852, dhilbert@flockadvisors.com
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“When evaluating industry trends or considering quality sources for capital investments, Michael is a great sounding board. He understands my issues because he has walked in my shoes. He has a great network, and has the M&A experience of having evaluated dozens of companies.”
— Mike Chamberlain,
CEO, Asset Management Outsourcing, Inc.
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