Transactions & News

NewSpring Exits Commercial Collection Agency Altus Receivables Management Inc.

NewSpring (the “Firm”), a family of private equity strategies, announced today that NewSpring Mezzanine ("NewSpring"), the Firm’s dedicated mezzanine strategy, has successfully exited Altus Receivables Management Inc. (“Altus” or the “Company”), a global commercial collections firm, as a result of a sale to a financial buyer.

Altus is one of the largest commercial debt collection agencies in North America, offering a wide range of debt collection services to enterprise and small to medium-sized business clients. The Company has successfully elevated its market position by leveraging proprietary technology that was built with the help of NewSpring’s Value Creation Team. Altus’ web-based collections platform, called ARM StrongTM, provides clients with advanced analytics and reporting capabilities and an intuitive customer portal that increases transparency and automates key functions.

Since NewSpring originally invested in Altus in 2016, the Company has formed key partnerships that have unlocked growth opportunities with new customers and end markets. These partnerships provided a synergistic relationship with industry operators to grow their businesses alongside of Altus, while leveraging its infrastructure and technology to increase capabilities to new and existing clients.  

“When we first invested in Altus, we knew the Company was primed for success considering its flexibility and willingness to leverage innovative technology to elevate their services and create scale,” said Andrew Panzo, NewSpring General Partner. “Since then, the Company has exceeded our expectations, and we wish them the best as they continue to grow.”

Throughout the investment, NewSpring leveraged its Value Creation Team, a network of experienced, senior operating professionals with specialized expertise across key functional areas to help scale operations.  Through this network, NewSpring was able to introduce key operational personnel to Altus that ultimately facilitated the Company’s successful growth.

“NewSpring’s operational experience and its long track record of helping businesses utilize technology to scale, made them the perfect partner for our business,” said Michael Baldwin, CEO at Altus. “We have enjoyed working alongside the NewSpring team and greatly appreciate their strategic support.”

About NewSpring 

NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.0 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 150 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit

About Altus Receivables Management

Altus Receivables Management is a global commercial collections firm helping companies gain new levels of confidence and control over their credit to cash cycle. Altus combines the most advanced technology with the largest international network of trained, certified professionals to streamline 1st and 3rd party collections at the highest levels of security and compliance. At the heart of their advanced technology is a powerful, customer-focused collection automation system called ARM STRONG™. Built on, the world’s #1 cloud-based customer relationship management (CRM) software, ARM STRONG automates and streamlines key functions of the debt collections process, reducing costs and boosting cash flow performance at every level. Backed by their world-class ARM Managed Services Team, Altus gathers and analyzes rich insights and best practices at every step to continuously improve and enhance your entire receivables management process in ways you can see, feel and measure. For three decades and across all industries, Altus has been working side-by-side with leading companies to help them gain new levels of confidence and control over their credit to cash cycle. For more information, visit

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