ATLANTA--(BUSINESS WIRE)--VION Receivable Investments (VION) is pleased to announce the acquisition of a commercial credit card portfolio consisting of approximately $6 million in performing and $67 million in charged-off debt. VION moved quickly to purchase the portfolio when the primary buyer proved unable to meet the purchasing criteria.
“This acquisition perfectly demonstrates VION strengths,” said Larry L. Curran II, Executive Vice President of VION. “We are backed by more than $5 billion in financial resources, we have a lean and very experienced management team able to recognize opportunity and act decisively, and we have the expertise to acquire commercial or consumer assets anywhere in the receivable lifecycle from origination through charge-off. These combined strengths gave us the ability to respond with speed and flexibility, and delivered an excellent solution for the seller.”
This portfolio purchase further solidifies VION’s position as a leading buyer of credit card assets. In 2013 the Company will continue its movement into the medical, education, and manufacturing sectors, and will strengthen its international position through its subsidiary VION Europa.
About VION Receivable Investments
VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, debt purchasing, receivables process consulting, and valuation / appraisal of receivable portfolios. VION offers solutions throughout the receivable lifecycle including originations, divestitures, liquidations, charge-offs, and turnarounds. Engagements range from several million to more than one billion dollars. For more information, please visit vioninv.com.