Miami firm acquires NARS
Sunday, December 6, 2009
An affiliate of a multibillion-dollar global equity private firm has acquired St. Louis-based National Asset Recovery Service.
Officials at NARS, which has a call center in Cape Girardeau, said the investment by Reprise Management Group, an affiliate of Miami-based HIG Capital, is a milestone for the company. No employees will be terminated as a result of the deal.
"We're looking forward to working with HIG and Reprise," Cape Girardeau native Chris Buehrle, president and CEO of NARS, said in a written statement.
Founded in 1993 by Buehrle, NARS employs more than 3,000 people and provides services for companies in such industries as automotive credit, consumer products and financial services. The company also has call centers in Jamaica, Panama and St. Louis.
NARS expanded into Cape Girardeau in December 2006 after community leaders developed a package that included a property tax abatement for building improvements and a Community Improvement District for the Town Plaza Shopping Center that increased sales tax on goods sold by retailers. For those efforts the city won recognition as the 2007 Governor's Community Project of the Year.