As we bid farewell to 2023, CORA proudly presents a year marked by transformative milestones, with strategic acquisitions. Throughout the past twelve months, our success lies in the addition of three remarkable businesses to our growing family — Data-Basics, WebRecon, and Hessel. Each acquisition not only enriches our portfolio but also reinforces our dedication to providing top-notch solutions in the fields of construction, credit and collection, and relocation.
- Two were located in North America and one was in the United Kingdom
- All three acquisitions were within established verticals
Acquisition Date: May, 2023
Industry: Construction
Description: Data-Basics Inc. provides end-to-end integration software solutions for businesses in need of construction management. SAMPro Enterprise by Data-Basics is one of the only construction software systems on the market today that offers contractors powerful tools to accommodate both in one complete ERP package. For more than 40 years, businesses have turned to SAMPro Enterprise for mission critical service management software solutions.
Headquartered: Bedford, Ohio, United States
Website: https://www.databasics.com
Acquisition Date: June, 2023
Industry: Relocation
Description: Hessel is a leading provider of global mobility management solutions and services. With a comprehensive suite of features, Hessel's expertise empowers organizations to streamline their expense processes, reconcile payments/tax data, and manage timely payroll, personal tax, and social security data. For almost 30 years, businesses have relied on Hessel to augment existing processes and manage data to ensure everything runs smoothly.
Headquartered: London, United Kingdom
Website: https://hessel.co.uk/
Acquisition Date: July, 2023
Industry: Debt Collection
Description: WebRecon is a leading provider of litigation tracking and consumer risk management solutions for businesses in the debt collection industry. With its advanced technology and expertise, WebRecon helps companies identify litigious consumers and track litigation and CFPB complaints to mitigate risks effectively. Through affordable, usage-based pricing models, WebRecon has become a trusted partner for businesses seeking comprehensive risk management solutions.
Headquartered: Grand Rapids, Michigan, United States
Website: https://webrecon.com/
This year, we hosted our second annual CORA University, providing CORA executives with an opportunity to connect and share knowledge.
The event gathered over 120 of our team members and served as a place where leaders from different parts of the CORA ecosystem could come together and build meaningful connections. CORA University centered around practical seminars, aiming to provide executives with valuable insights and expertise. This year, our keynote speaker and seminars focused around developing and executing on a corporate strategy.
From hands-on workshops to networking sessions, CORA University is one of our foundational building blocks to “redefine advancement” for our employees.
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"2023 marked our first full year as the CORA brand. In these 12 months, we’ve added three fantastic businesses which strengthens our position in our existing markets of construction, relocation and debt collection. In addition, these companies brought on more talent which will fuel our ability to grow organically and via acquisition.
During this year, we’ve also made critical hires at a CORA level to drive our long-term strategy to ramp up acquisitions and develop leaders to take on new challenges in our businesses. In Q1, we added Denis Brosnan as a Portfolio Manager to increase our acquisition and integration capacity. In Q2, we added David Rennard as a Director of Learning & Development to reinforce our culture of continuous career advancement. Beyond Denis and David, we’ve also made a variety of additions at our Finance, IT security and M&A teams so that we can service our portfolio businesses, and set ourselves up the future.
As we look forward to 2024, I am extraordinarily bullish that we’ve made the right moves to set ourselves up for continued success."
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"2023 was yet another strong year of acquisitions for the CORA Group, and I’m extremely proud to add Data-Basics, The Hessel Group and WebRecon to our growing family of businesses. As we look towards 2024, our goal is to improve our acquisition process to make it as smooth as possible for a company or banker to work with the CORA Group. Our team is extremely aware of how personal and time consuming the process is to sell a business and the impact that the integration process bring to the sellers, the employees, and the customers. And that’s why our M&A team has taken on initiatives to streamline our review and approvals process, improved our internal training processes, and invested into additional resources in order to make future acquisitions as smooth as possible."
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