2009 March 16
EL SEGUNDO, Calif., March 16, 2009 - KCC, a leading claims and noticing agent serving companies undergoing Chapter 11 restructuring, today announced the company has agreed to be acquired by Computershare Limited (ASX: CPU), a global provider of transfer agency, employee equity plans, proxy solicitation and other specialized financial, governance and stakeholder communication services, pending regulatory approval. As a wholly-owned subsidiary of Computershare, KCC will continue to serve clients as the market leader for claims and noticing services.
"This marks a significant turning point at KCC. It represents the culmination of our vision to bring higher standards to the claims and noticing market and diversify KCC into a BPO (business process outsourcing) provider to the broader legal and financial services market,” said Eric Kurtzman, KCC’s Co-Founder and CEO. “Computershare offers significant resources and experience that will enable KCC to maximize its opportunities and provide significant contribution to Computershare for years to come.”
KCC's clients will continue to experience exceptional service during the integration process. Computershare enables KCC to offer its clients solutions such as global call center support, expanded document production services, proxy solicitation solutions through Georgeson, and claims administration services for corporate insolvencies in Europe and Asia.
"This acquisition is quite significant for Computershare and the marketplace. KCC’s corporate culture, technology-based service offering and unique position in an expanding area of the market offer a strategic complement to our business. Computershare will also realize synergies with the addition of production facilities in Los Angeles and Memphis, and we will further expand our market in such areas as bankruptcy, proxy, class actions and escrow,” said Steve Rothbloom, President and CEO of Computershare US.
Upon regulatory approval, Jon Orr, who currently serves as KCC’s CFO will be promoted to President of the company to ensure a seamless acquisition integration, maximize synergies and identify strategic growth initiatives for the future. Computershare will seat its current US Financial Controller, Gerry Mullins, as KCC’s Chief Financial Officer.
"We foresee great harmonies between KCC and Computershare that will fulfill our vision to diversify and create a sustainable, high-growth, high-value business,” said Jonathan Carson, KCC’s Co-Founder and President. “Today, legal and financial professionals in the corporate-restructuring market expect a higher standard of service, world-class technology and relevant industry expertise from their claims agent because of KCC. We will continue to build upon this model to realize the business’s true market potential.”
Computershare (ASX: CPU) is a global leader in transfer agency, employee equity plans, proxy solicitation and other specialized financial and communication services. Many of the world's largest companies employ our innovative solutions to maximize the value of their relationships with investors, employees, customers and members. Computershare has approximately 11,000 employees across the world and serves 17,000 corporations and 100 million shareholders and employee accounts in 17 countries across five continents. For more information about Computershare, visit www.computershare.com.
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