ATLANTA (June 22, 2021) – Smith, Gambrell & Russell, LLP (SGR) is pleased to announce the firm served as legal counsel to Account Control Technology Holdings, Inc. (ACTH), one of the nation’s leading debt recovery, accounts receivable management (ARM), and business process outsourcing companies, in its sale to Transworld Systems Inc. (TSI), the largest U.S. technology-enabled provider of ARM solutions. The transaction, which now forms the largest ARM company in the U.S., closed on June 4, 2021.
During its more than 30 years in operation, ACTH grew to become a leading provider of business management and financial services for the higher education, government, healthcare, consumer and commercial markets. TSI’s acquisition of ACTH will significantly increase the receivables management company’s first party collections and customer care business while expanding its healthcare revenue cycle management service offerings.
The SGR Atlanta legal team included Partners Jay Schwartz and Julie Sebastian, along with Associates Erin McCallum and Frances Plunkett in the Mergers and Acquisitions Practice. Additional assistance was provided by Partners Dale Lischer of the Intellectual Property Practice, Tori Silas in the Cybersecurity and Data Privacy Practice, and Joseph Mandarino of the Tax Practice, with Partners Angela Roberts and David Putnal of the Employee Benefits and Executive Compensation Practice. Partners Tom Hong, of the Mergers and Acquisitions Practice and Parker Sanders, of the Litigation Practice, handled the antitrust and Hart-Scott-Rodino filings.
Truist Securities acted as financial advisor to ACTH.
Vinson & Elkins LLP provided legal counsel to TSI.
About Account Control Technology Holdings, Inc.
Account Control Technology Holdings, Inc. provides comprehensive business process outsourcing and financial services to diverse industries. Our companies partner with clients to help them run the “business” behind their operations so they can focus on what they do best – whether it’s serving customers, educating students, caring for patients, or keeping communities moving forward. ACT Holdings companies include Convergent Outsourcing, Inc., Convergent Revenue Cycle Management, Inc., Convergent Healthcare Recoveries, Inc. and Account Control Technology, Inc. with locations across the US, nearshore, and offshore. For more information, visit www.accountcontrolholdings.com.
About Smith, Gambrell & Russell, LLP
SGR is a full service, international law firm that advises regional, national and global businesses on a wide range of legal matters. The firm’s 250 attorneys provide legal counsel in more than 45 specialized practice areas, including aviation, corporate transactions, litigation, intellectual property, banking, real estate, construction, employment law, and employee benefits and executive compensation. Founded in 1893, SGR has offices in Atlanta; Austin; Jacksonville; London; Los Angeles; Miami; Munich; New York; Southampton, U.K; and Washington, D.C.