As per the merger agreement inked, Jefferson Capital has extended and increased its syndicated credit facility, in coordination with private lenders, the firm said.
Jefferson Capital president and CEO David Burton said the acquisition by Flexpoint Ford provides incremental growth capital allowing the company to better serve its existing clients and expand its services to new market segments.
"We are excited to partner with Flexpoint, whose financial services expertise will be an asset as we expand upon our many successes. Our management team will remain in place and continue to lead the organization," Burton added.
Flexpoint Ford vice president Michael Tyree said, "Jefferson Capital’s diversified business lines allow them to stay nimble and opportunistic in their purchases."
"JCAP’s attractive returns on capital, along with the new financing facility and strong management team, should enable the Company to create significant value."
Kirkland & Ellis provided legal advice to Flexpoint Ford in connection with the transaction.
Headquartered in St. Cloud, Minnesota, US, Jefferson Capital provides services pertaining to balance transfer credit card programs; purchasing and servicing of secured and unsecured bankruptcies, as well as traditional purchasing of distressed portfolios.
