NewSpring Mezzanine Capital Announces Investment in Altus

NewSpring Mezzanine

Radnor, PA – April 5, 2016 - NewSpring Capital, a family of private equity funds providing growth and expansion capital, announced today that NewSpring Mezzanine Capital ("NewSpring"), the firm’s dedicated mezzanine fund, has made a $12.8 million investment in Altus Global Trade Solutions, Inc. (“Altus”).  NewSpring partnered with Evergreen Industries and Spring Capital Partners; the total proceeds will be used in support of Altus’ five-year growth plan, which calls for doubling the current corporate footprint. 

Altus was purchased from French parent company, Natixis. Corporate Advisory Solutions served as advisor to Altus, BakerHostetler served as counsel to Natixis, and Blank Rome served as counsel to NewSpring, Evergreen Industries and Spring Capital Partners.

Altus, formed 20 years ago as Newton & Associates, is an independently-owned commercial debt collection agency.  Today, Altus is the nation’s largest and leading commercial debt collection agency, offering a host of accounts receivable management solutions for enterprise and small to medium-sized business clients.  The Company is licensed and bonded to operate in every state in the U.S., which provides scale and defensibility in the highly fragmented ~$1 billion domestic commercial debt collection industry.

“This partnership is a significant step into the future for Altus,” said corporate President, Tom Brenan. “It provides the opportunity to accelerate our continued growth trajectory by bringing resources to support technological innovation, enhanced customer service capabilities, and selective merger and acquisitions activity.”

“NewSpring and Spring Capital Partners recognized Altus as an industry leader with strong management and significant growth potential,” added Andrew Panzo, NewSpring General Partner.  “Together with Evergreen, we will assist management to successfully capitalize on Altus’ strategic growth initiatives in order to provide their customers with broader, more extensive coverage and consistent, world-class service levels.”

“NewSpring, Evergreen Industries and Spring Capital Partners are knowledgeable investors with significant experience in the financial services sector,” said Brenan. “We look forward to working with our new equity and financing partners as we continue to deliver value for Altus clients and shareholders.”

Specifics of the acquisition call for the current Altus GTS corporate leadership team and staff to remain in position, and the array of accounts receivable management services provided will be expanded and optimized. 

About Altus

Altus provides commercial debt recovery services to more than 100,000 customers in the United States and abroad. The Company is a comprehensive, full service, commercial receivable management agency offering receivable management outsourcing, domestic and international commercial collections, audit collection, and business receivable management training.  Altus is fully licensed and bonded in all required jurisdictions. The Company is a member of the Commercial Law League of America, the Commercial Collections Agency Association of the Commercial Law League of America, and a member of the International Association of Commercial Collectors.  Founded in 1994, Altus is headquartered in Kenner, LA, with branch offices in Colorado, Washington and New Jersey and affiliate offices in Delaware, Washington State, Arizona and Iowa. For more information, visit