Enhanced Recovery Corp. formed a partnership with private equity firm RLJ Equity Partners to boost the company’s technology and expand its footprint in the Southeast.

Terms of the deal were not publicized and calls seeking comment were not acknowledged by press time.

Enhanced Recovery provides accounts receivable and collection services for bank cards, retail operations, phone companies, cable, utility and auto payments.

The company is headquartered in Florida with multiple offices in that state and another in Georgia; Enhanced Recovery representatives said in a statement that they can build scale without putting much strain on the company’s infrastructure, possibly setting it up for additional M&A with its new private equity partner.

RLJ, based in Bethesda, Maryland, is a middle market private equity firm that is affiliated with RLJ companies and was formed via a strategic alliance with the Carlyle Group. The PE firm has already invested in CVC, a Latin American tour operator, Fleischmann’s Vinegar and LAI International, an Arizona-based parts maker for aerospace and defense firms.

Jamie Lewin, managing director with McColl Partners, worked on the deal for the investment bank.
 
Investors have made several moves into collections agencies and delinquent payment services in 2010. Earlier this year, DAL Group, a Florida-based bankruptcy and mortgage claims processor, took an investment of more than $50 million from special purpose acquisition company Chardan 2008 Acquisition.

Financial services industry