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ARMStrong Receivable Management

ARMStrong Receivable Management (formerly Brown & Joseph Altus) provides commercial accounts receivable management services. The company delivers market leading performance for its customers.


How We Partnered

Transaction Dynamics
A partnership with management to acquire the company from its previous owner. Management made a meaningful investment in the company.

Investment Thesis

  • Build scaled commercial collections platform
  • Proven, backable management team with strong track record of success
  • Recession resistant business model
  • Multiple organic growth levers and attractive add-on acquisition opportunities

Incline Value Enhancement

  • Execute on near-term growth prospects
  • Invest in infrastructure and reporting capabilities
  • Support sales strategy with investment in additional resources
  • Pursue add-on acquisitions

Itasca, IL




Business Services


June 2019

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.

Mike Baldwin, Chief Executive Officer

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