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:
“The history of literature—take the net result of Tiraboshi, Warton, or Schlegel,—is a sum of a very few ideas, and of very few original tales,—all the rest being variation of these.”
—Ralph Waldo Emerson (1803–1882)
“All objects, all phases of culture are alive. They have voices. They speak of their history and interrelatedness. And they are all talking at once!”
—Camille Paglia (b. 1947)
“I feel as tall as you.”
—Ellis Meredith, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 14, by Susan B. Anthony and Ida Husted Harper (1902)