Incline Equity Partners, a Pittsburgh-based private equity firm, announced the acquisition of Brown & Joseph, a leading provider of commercial accounts receivable management services primarily focused on insurance end markets.

According to a source familiar with the deal, Twin Brook Capital Partners, the middle market direct lending subsidiary of Angelo Gordon, served as administrative agent on financing to support the transaction.

Based in Itasca, IL, B&J specializes in B2B third-party collection services while also providing first-party collections and insurance premium audits. The Company has earned a winning reputation within the commercial debt collection industry by delivering high quality, effective and innovative solutions to its customers. The Company’s proven approach to the recovery process delivers market leading performance for its customers which drives strong retention and growth with existing customers.

“This is a sector we know well from an earlier investment we made in Receivable Management Services Corporation, a global supplier of recovery services,” said Leon Rubinov, Senior Partner with Incline. “We plan to leverage our prior experience to support further growth at the Company. We are excited to back an impressive management team that has a strong track record of success.”

Mark Schabel, CEO at B&J, commented, “Working with Incline provides the opportunity to continue to achieve the meaningful growth we have experienced so far while expanding our capabilities to serve existing and new customers. Incline brings the resources and knowledge needed to tackle strategic initiatives like adding new service lines for existing customers, developing an approach to enter new markets and pursuing add-on acquisitions.”