11/11/2023 0 Comments Heights finance mexico mo![]() The acquisition is immediately accretive to CURO’s earnings. The acquisition’s aggregate purchase price of $360 million represents 6.5x Heights Finance’s 2022 estimated adjusted earnings before taxes of $55 million. CURO’s strong capital position and diversified funding sources also create the opportunity to lower our cost of debt capital.” ![]() “We consider CURO an ideal strategic partner, as its industry-leading omni-channel expertise and related technology, data science and proprietary underwriting capabilities promise to further enhance our branch delivery and servicing, augment our online capabilities and drive revenue and cost synergies. “We are proud of our track record of leveraging our flexible installment loan platform to meet the needs of the millions of hardworking Americans underserved by traditional credit providers and are thrilled to be joining forces with CURO to accelerate our growth trajectory,” said Doug Clark, Chief Executive Officer of Heights Finance. We are excited to welcome the Heights Finance team to CURO and look forward to executing together on our substantial growth opportunities.” We believe that we are well positioned to meaningfully grow our combined operations as Heights Finance offers us opportunities to expand into new geographic markets, leverage our omni-channel capabilities and cross-sell certain of our card products. The transaction brings together two complementary businesses that similarly prioritize credit, risk analytics and regulatory compliance. business and enhances our overall growth, profitability and risk profiles. “The combination diversifies the product, revenue, customer and geographic mix for our U.S. “By adding Heights Finance’s established base of customers, seasoned loan portfolio and significant branch network, we will solidify our position as a full spectrum non-prime consumer lender in the U.S.,” said Don Gayhardt, Chief Executive Officer of CURO. ![]() For the 12 months ended September 30, 2021, Heights Finance had revenue of $235 million and adjusted pre-tax income of $34 million. The acquisition is expected to accelerate CURO’s transition into longer-term, higher balance and lower rate credit products. Heights Finance primarily serves near-prime and non-prime customers through a network of 390 branches across 11 southern and mid-western states. Total consideration of $360 million is comprised of $335 million cash and $25 million of CURO common stock. and Canada, today announced that it has entered into a definitive agreement to acquire Heights Finance, a consumer finance company that provides installment loans and offers customary opt-in insurance and other financial products, from Milestone Partners, a private equity firm based in Radnor, Pennsylvania. (NYSE: CURO) (“CURO”), a tech-enabled, omni-channel consumer finance company serving non-prime and prime consumers in the U.S. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.Īs a matter of policy, BBB does not endorse any product, service or business.WICHITA, Kan.-( BUSINESS WIRE)-CURO Group Holdings Corp. BBB Business Profiles are subject to change at any time. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.īBB Business Profiles generally cover a three-year reporting period. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. BBB Business Profiles may not be reproduced for sales or promotional purposes.īBB Business Profiles are provided solely to assist you in exercising your own best judgment.
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