When was Encore Capital Group founded?
Our operating subsidiary, Midland Credit Management, Inc., was founded in 1953. In 1998, an investor group led by Nelson Peltz and Peter May (members of Triarc Companies, Inc. management) and Kerry Packer of Consolidated Press International Holdings Limited, acquired a majority interest in our operations. In 1999, this investor group formed a holding company, MCM Capital Group, Inc., which was later renamed Encore Capital Group, Inc. in April 2002.
