ASHEVILLE, N.C., June 30, 2009 (GLOBE NEWSWIRE) -- Meridian Financial Services, Inc., a subsidiary of Interval Leisure Group, Inc. (Nasdaq:IILG), today announced that it has acquired substantially all of the assets of Resort Management International (RMI). Operated by EMCC, Inc., Mobile-based RMI offers collections solutions to the vacation ownership industry. Terms of the transaction were not disclosed.
"This acquisition provides us with opportunities to expand Meridian's customer base domestically and internationally," said Greg Sheperd, president of Meridian Financial Services. "We look forward to working with members of RMI's seasoned team, to leverage our infrastructure, create operating synergies, and grow our financial services business."
About Meridian Financial Services
Meridian Financial Services, Inc. is a third-party collection agency that has provided industry-related services for more than 20 years to resort developers, property management companies, and homeowner's associations. Meridian is headquartered in Asheville, North Carolina, and has offices in Las Vegas, Nevada, and Mobile, Alabama. The company is a subsidiary of Interval Leisure Group, a leading global provider of membership and leisure services to the vacation industry.
About EMCC, Inc.
Founded in 1978, EMCC, Inc. provides complete accounts receivable management solutions to clients throughout North and South America. In addition to its extensive debt purchasing activities, the company also provides world class loan servicing capabilities through its subsidiary Equiant Financial Services, Inc. and valuation services to a wide array of financial sponsors for in-depth reviews of accounts receivable portfolios. EMCC is headquartered in Scottsdale, Arizona, and is an affiliate of the Schottenstein Stores Corporation, one of the country's largest retail conglomerates.
Forward-Looking Statements
This press release contains "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, relating to: our future financial performance, our business prospects and strategy and other similar matters. These forward looking statements are based on management's current expectations and assumptions about future events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results could differ materially from those contained in the forward looking statements included herein. Accordingly, you should not place undue reliance on these forward-looking statements, which only reflect the views of our management as of the date of this press release. Except as required by applicable laws, we do not undertake to update these forward-looking statements.