Focus is a provider of outsourced accounts receivable management and collection services. Formed in 2001 by three industry veterans, the Company leverages its Windows-based technology platform and strong commitment to customer service to improve its clients’ accounts receivable recovery rates, thus enhancing their financial performance.
The three founders were approached by Michael Flock, the former President of Dun & Bradstreet’s receivables management business, regarding a sale of the Company. Mr. Flock hoped to provide liquidity to the founders through a recapitalization and work with them as the new CEO to aggressively grow the business. Croft & Bender was hired by Mr. Flock to execute a complete process to enable him to execute the transaction, which included identifying potential financial partners, drafting the offering memorandum, marketing the opportunity, selecting a partner, and negotiating the terms.
Croft & Bender successfully executed the recapitalization of the Company, with a majority interest being sold to Primus Venture Partners.