Altus Global Trade Solutions (Altus), a full-service commercial accounts receivable management firm headquartered in Kenner, LA., announced that a strategic merger has been finalized with Johnson, Morgan & White (JMW), a South Florida-based firm. The acquisition is the first phase in Altus’ five-year growth plan which calls for doubling the current corporate footprint.
“This partnership is a significant step into the future for Altus and solidifies our position as the largest accounts receivables management company in North America,” said corporate president, Tom Brenan. “Our merger with JMW provides the opportunity to accelerate Altus’ growth trajectory by bringing on a highly respected company, which has one of the most experienced management teams in the country, and provides top-notch customer service to a substantial client base, mainly consisting of Fortune 1000 companies.”
Altus’ growth projections for 2017 include a 20% increase in revenue (approximately $35 million). The merger adds 30 additional employees to the Altus team in South Florida.
“With over thirty years of industry experience and a highly-regarded reputation, joining forces with JMW was a natural fit for Altus,” said Brenan. “We are excited about the partnership and the opportunities it provides the company and our clients.”
“Our board recognizes this merger is a significant opportunity to take JMW to the next level by capitalizing on Altus’ differentiators: client support, reporting systems, security, risk protection and technology. We look forward to growing with Altus as we continue to deliver value for our clients,” added Robert Cooper, JMW President.
The acquisition calls for the current JMW management team to serve as Altus senior executives and the current staff to remain in position. The array of accounts receivable management services provided will be both expanded and optimized.