History
Encore Capital Group’s wholly owned operating subsidiary, Midland Credit Management, Inc., was founded in 1953 and was incorporated in Kansas in September 1953. In 1998, an investor group led by Nelson Peltz and Peter May (members of Triarc Companies, Inc. management) and Kerry Packer of Consolidated Press International Holdings Limited, acquired a majority interest in its operations. In 1999, this investor group formed a holding company, MCM Capital Group, Inc., which was later renamed Encore Capital Group, Inc. in April 2002. The company was incorporated in Delaware in April 1999 as MCM Capital Group, Inc. and changed its name to Encore Capital Group, Inc. in April 2002. The company completed its initial public offering of 2,250,000 shares of common stock in July 1999.
Read more about this topic: Encore Capital Group
Famous quotes containing the word history:
“A people without history
Is not redeemed from time, for history is a pattern
Of timeless moments.”
—T.S. (Thomas Stearns)
“Both place and time were changed, and I dwelt nearer to those parts of the universe and to those eras in history which had most attracted me.”
—Henry David Thoreau (1817–1862)