Historic Timeline

The company that is now PRA Group (Nasdaq: PRAA) began in 1996 as Portfolio Recovery Associates, headquartered in Norfolk, Virginia, with four employees. The company became PRA Group in 2014 with an expansion across Canada and Europe. Today, the company is a global leader employing more than 5,000 employees in the Americas and Europe.

Timeline

1996
1996

Humble Beginnings

Steve Fredrickson and Kevin Stevenson
  • Portfolio Recovery Associates, LLC co-founded by Steve Fredrickson and Kevin Stevenson
1999
1999

New Headquarters

PRA Norfolk headquarters 1999
  • Establishes new headquarters in Norfolk, Virginia
  • PRA employee count topped 100
2000
2000

A Growing Need

PRA timeline Kansas
  • Opens second call center in Hutchinson, Kansas
2002
2002

PRA Becomes PRAA

PRA recognized by Inc. Magazine
  • Inc. magazine recognizes PRA as one of 500 Fastest-Growing Companies
  • IPO to launch Portfolio Recovery Associates, Inc. as a public company (Nasdaq: PRAA)
2003
2003

Virginia Expansion

PRA 100 Best Small Company
  • BusinessWeek recognizes PRA as a 100 Best Small Company and 100 Hot Growth Company
  • Opens third call center in Hampton, Virginia
2004
2004

Insolvency Services

  • Diversifies U.S. portfolio into acquisition and servicing of bankruptcy claims
2005
2005

From 4 to 1,000+

  • PRA employee count surpassed 1,000
2006
2006

Fourth Call Center

PRA included in 100 fastest growing companies
  • Fortune Small Business names PRA one of America’s 100 Fastest-Growing Small Companies (2006 & 2007)
  • Opens fourth call center in Jackson, Tennessee
2007
2007

History of Distinction

  • PRA named one of Forbes’ Best Small Companies for eight consecutive years (2007-2014)
2010
2010

Claims Compensation Bureau

Claims Compensation Bureau
  • Diversifies into class action claims servicing with acquisition of controlling interest in CCB
2011
2011

Sweet Home Alabama

Sweet Home Alabama
  • Opens U.S. call center in Birmingham, Alabama
2012
2012

PRA Crosses the Pond

PRA Group UK expansion
  • Expands into UK consumer debt buying and contingency collections with acquisition of Mackenzie Hall
  • Begins to acquire and service secured bankruptcy debt with acquisition of National Capital Management assets
2013
2013

A Growing Set of Awards

PRA selected by Barron's 400
  • Opens U.S. call center in Dallas, Texas
  • PRAA included in Barron’s 400 Index of most fundamentally sound and attractively priced stocks for second consecutive year
  • Credit Collections & Risk awards PRA UK Credit Excellence Award in Compliance
2013

Opens U.S. call center in Dallas, Texas

Opens U.S. call center in Dallas, Texas
2014
2014

PRA Becomes Global

PRA timeline 2014
  • Named one of Fortune’s 100 Fastest-Growing Companies for third year (2006, 2007, 2014)
  • Named one of Forbes’ Best Small Companies for eighth consecutive year (2007-2014)
  • Acquires Aktiv Kapital AS, a leader in acquiring and servicing nonperforming consumer loans throughout Europe and Canada
  • Acquires UK Individual Voluntary Arrangements platform and other assets from Pamplona Capital Management
2015
2015

PRA Cares

PRA Group timeline RCB Investimentos
  • Purchases majority position in RCB Investimentos, Brazil’s leading NPL master servicing platform
  • Recognized for Global M&A Deal of the Year in the M&A Atlas Awards for acquisition of Aktiv Kapital AS
  • Expands Norfolk headquarters to support long-term growth
  • Launches global core values, built on five words that form the acronym CARES: Committed, Accountable, Respectful, Ethical and Successful.
2016
2016

Celebrating 20 Years!

Forbes PRA 2016
  • Named one of Forbes’ Best Midsize Employers in America
  • Acquires DTP S.A. (DTP), a mid-size debt purchaser and debt collector active in the Polish market
  • Company celebrates 20th anniversary
2017
2017

New Websites Launched

New Websites Launched
PRAGroup.com
  • Launches first global corporate website. The redesigned and fully responsive website is optimized for all mobile devices and platforms, and complete with geolocation for delivering localized customer payment websites across the U.S., Canada, and Europe.
PortfolioRecovery.com
  • Launches new and improved customer website in the U.S. The new single-page website offers a scrolling, streamlined, and more comprehensive experience for customers.
PRApay.com
  • Launches first customer payment website that allows most customers to access their accounts online from their computer or mobile device.
2018
2018

Two New Call Centers Open

Two New Call Centers Open
  • Burlington, North Carolina
  • Las Vegas, Nevada