By Kevin McCauley
MSLGroup has picked up Encore Capital Group, the debt collection agency with stock thatrecently hit a 52-week high of $24.31.
The San Diego-based company is a top purchaser of distressed consumer debt buying and recovery. It buys defaulted consumer loans from banks, credit unions and utilities and works with consumers to get them to repay their loans and bills.
MSLGroup is charged with media relations, government affairs, IR and reputation management. Peter Harris, senior VP and North American corporate practice director, leads the effort. He is bolstered by MSLGroup’s sister Publicis Groupe companies Kekst & Co. and Hanmer MSL in India. Encore owns a large operation in New Delhi.
Hard economic times have bolstered Encore’s financial standing as nine-month `10 net income soared 41 percent to $35M on a 20 percent revenue boost to $282M.
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