PRA Group, Inc. (“PRA Group”), through one of its subsidiaries, completed the acquisition of Resurgent Holdings LLC’s (“Resurgent”) Canadian business. PRA Group is a global leader in acquiring and collecting non-performing loans, and the acquisition supports PRA Group’s position as a market-leading non-performing loan business in Canada. The purchase price was not disclosed to the public as part of the transaction.
Bringing together over 25 years of operating experience in the Canadian markets, the combined business will have the scale, capital and operating efficiencies critical to providing excellent service and liquidity to credit originators who, in turn, can expand credit services to consumers.
PRA was represented by Blake, Cassels & Graydon LLP with a team that included John-Paul Bogden, Patrick Whitehill and Amelia Edwards (M&A), Soraya Jamal (Tax), Wendy Mee (Privacy), Joanna Myszka and Katherine Barbacki (Intellectual Property), Elizabeth Sale and Katie Patterson (Regulatory), Samantha Rossman (Financial Services), Aldona Gudas and Jean-Marcel Seck (Employment), Jim Robson (Competition) and Philippe Côté (Commercial Real Estate).
Resurgent was represented by McCarthy Tétrault LLP with a team that included Patrick M. Shea, Claire Gowdy and Eriq Yu (M&A), Jason Gudofsky (Competition), Marie-Soleil Landry and Quentin Lageix (Tax), Kelleher Lynch (Employee Benefits), Matthew Demeo (Employment) and Vincent Yip (Intellectual Property).