M&A Deal Summary

Green Dot Acquires Santa Barbara Tax Products Group

On September 18, 2014, Green Dot acquired business services company Santa Barbara Tax Products Group from Platform Partners for 320M USD

Acquisition Highlights
  • This is Green Dot’s 1st transaction in the Business Services sector.
  • This is Green Dot’s largest (disclosed) transaction.
  • This is Green Dot’s 4th transaction in the United States.
  • This is Green Dot’s 2nd transaction in California.

M&A Deal Summary

Date 2014-09-18
Target Santa Barbara Tax Products Group
Sector Business Services
Buyer(s) Green Dot
Sellers(s) Platform Partners
Deal Type Add-on Acquisition
Deal Value 320M USD
Advisor(s) William Blair (Financial)

Target

Santa Barbara Tax Products Group

San Diego, California, United States
website
Santa Barbara Tax Products Group LLC is a provider of financial products and processing services to the tax preparation industry. TPG provides its services through third party tax preparation firms, including tax preparers and tax software providers.

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Buyer(S) 1

Buyer

Green Dot

Pasadena, California, United States

website


Category Company
Founded 1999
Sector Financial Services
Employees1,200
Revenue 1.5B USD (2022)
DESCRIPTION
Green Dot's corporate headquarters in Pasadena, California.
Green Dot's corporate headquarters in Pasadena, California.

Green Dot is an issuer of prepaid master and visa cards that provides reloading services. Green Dot Bank focuses on serving low and moderate income families with financial products and services, including prepaid cards, checking accounts and cash processing services distributed through a network of retail stores, neighborhood financial service centers and via digital channels. Green Dot was founded in 1999 and is based in Pasadena, California.


DEAL STATS #
Overall 4 of 5
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 4 of 5
State (California) 2 of 2
Country (United States) 4 of 5
Year (2014) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-09 Loopt

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
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Chicago, Illinois, United States

UniRush LLC and its operating businesses RushCard, a leading online direct-to-consumer general purpose reloadable prepaid card provider, and Rapid! PayCard, a leading corporate payroll card provider.

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Seller(S) 1

SELLER

Platform Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2006
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Platform Partners is a private holding company that makes investments in small to mid-sized companies with a history of 'operating profitability'. The platform looks for growth situations and seeks to invest up to $75 million of equity capital per transaction. Prospective transaction situations include management-led buyouts of private companies, recapitalization of family-owned companies, and growth capital commitments to pursue strategic acquisitions. The Firm will consider both majority and minority positions. Platform Partners was formed in 2006 and is based in Houston, Texas.


DEAL STATS #
Overall 7 of 12
Sector (Business Services) 1 of 4
Type (Add-on Acquisition) 2 of 3
State (California) 1 of 1
Country (United States) 7 of 12
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-01 Dynamic Glass

Houston, Texas, United States

Dynamic Glass is a glass and glazing contractor that provides custom design, drafting, fabrication, and installation of exterior and interior glass and aluminum window systems for new commercial construction projects and renovations of existing buildings. Dynamic Glass was founded in 1990 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
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Morrisville, North Carolina, United States

SmartSky Networks is a producer of disruptive communications technologies for the aviation industry. SmartSky Networks was founded in 2011 and is based in Morrisville, North Carolina.

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