Ideal Recovery and Absolute Recovery announced a strategic merger that brings together two established collateral recovery services providers to create a broader platform serving lenders across the Midwest and Southeast.
The transaction combines St. Louis-based Ideal Recovery with Pineville, North Carolina-based Absolute Recovery, which serves the Charlotte market. The combined organization will provide asset recovery services to banks, credit unions and automotive finance companies across multiple regions.
Founded nearly 20 years ago by Brent Hulderman, Absolute Recovery provides involuntary and voluntary repossessions, skip tracing, condition reporting and secure transportation services. The company serves customers within an approximately 50-mile radius of Charlotte.
Ideal Recovery said the acquisition expands its geographic footprint and adds a business with an experienced management team, established systems and processes, diversified revenue streams and recurring customer relationships.
As part of the transaction, Hulderman will remain involved as a long-term strategic partner, helping support the transition and maintain customer relationships and institutional knowledge.
The deal was facilitated by Viking Mergers & Acquisitions. Brando Reyna, senior advisor, and Trevor Crocker, partner, represented Absolute Recovery in the transaction.
Viking M&A said the combination underscores continued buyer interest in founder-led service businesses with recurring revenue and strong operational disciplines.
KEY QUOTES:
“Starting the business off as a single driver with one truck, I’m incredibly proud of what Absolute Recovery’s team has built over the years. Joining forces with another market leader under unified leadership extends the runway for current employees and allows a heightened level of client service for years to come.”
Brent Hulderman, Founder, Absolute Recovery
“Absolute Recovery had many of the qualities buyers are looking for in this sector: a strong local reputation, reliable customer relationships, recurring revenue, and a seller who was prepared for the process. That preparation mattered. Brent understood the key deal points, responded quickly, and helped create a smooth path to closing.”
Brando Reyna, Senior Advisor, Viking Mergers & Acquisitions
