Eastern Revenue Announces Acquisition of Financial Recoveries, Inc.

Audubon, PA — Eastern Revenue, Inc. (www.easternrevenue.com) has announced it has completed the acquisition of Financial Recoveries, Inc., of Buffalo, New York, to include the integration of all operations and client service activities into Eastern Revenue’s headquarters in Audubon, Pennsylvania.  The acquisition was effective May 1, 2010.

This transaction represents a significant growth milestone for Eastern Revenue, which was purchased by current principals Kyle Shanahan, president, and Larry Goldman, executive vice president, sales, in December 2008.  It represents a continuation of the company’s aggressive growth strategy through both acquisition and organic growth in higher education.

Kyle and Larry released a joint statement about the acquisition: “The opportunity to acquire Financial Recoveries was a great fit because it greatly expands our geographic reach into new parts of the country without much client overlap.  We are pleased to welcome so many new clients to the Eastern Revenue family.”

Financial Recoveries had been in business since 1978, serving primarily colleges and universities in the Mid-Atlantic states and throughout the Midwest.  Former owners Ed Forster and John Sheeran will remain involved in company operations as outside consultants for a period to ensure a continued smooth transition for clients.

Terms of the transaction were not disclosed.

About Eastern Revenue
Eastern Revenue is a leading collection agency for higher education institutions that value results.  Since 1989, the company has out-serviced and out-performed competitors while rewarding employees in a secure work environment that values compliance.  Learn more at www.easternrevenue.com.