M&A Deal Summary

TimePayment Acquires Wheaten Financial

On May 9, 2022, TimePayment acquired financial services company Wheaten Financial

Acquisition Highlights
  • This is TimePayment’s 1st transaction in the Financial Services sector.
  • This is TimePayment’s 2nd transaction in the United States.
  • This is TimePayment’s 1st transaction in California.

M&A Deal Summary
Date 2022-05-09
Target Wheaten Financial
Sector Financial Services
Buyer(s) TimePayment
Deal Type Add-on Acquisition

Target

Wheaten Financial

Costa Mesa, California, United States
website
Wheaten Financial is an equipment finance company primarily focused on commercial vehicles and titled equipment. The company offers specialty financial products with a quick turnaround (get approval in 24 hours!) and strives to put together a finance package that will meet clients' specific needs. Wheaten Financial is based in Costa Mesa, California.

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Buyer(S) 1

Buyer

TimePayment

Burlington, Massachusetts, United States

website

Category Company
Founded 1986
Sector Information Technology
DESCRIPTION

TimePayment leads the industry with technology tools and capital that enables equipment sellers and financial intermediaries to offer fast, paperless equipment lease financing to their customers. The company’s proprietary credit scoring and risk-based transaction model delivers competitive lease financing solutions across the credit spectrum; from Fortune 500 companies to small business start-ups. TimePayment proudly serves more than 100,000 active accounts with transaction sizes ranging from $500 to over $500,000.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-09 Kingswood Leasing

Dover, New Hampshire, United States

Kingswood Leasing, Inc. is a provider of sales financing solutions for equipment sellers in the restaurant, food services, hospitality, and c-store industries. Kingswood Leasing, Inc. is known for its ability to deliver financing to customers across the credit spectrum and for a wide range of specific financing needs; from equipment replacements and add-ons to more complex build-outs and remodels.

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