M&A Deal Summary

American Express Acquires Kabbage

On August 17, 2020, American Express acquired financial services company Kabbage from Reverence Capital Partners and Elixir Capital

Acquisition Highlights
  • This is American Express’ 5th transaction in the Financial Services sector.
  • This is American Express’ 12th transaction in the United States.
  • This is American Express’ 3rd transaction in Georgia.

M&A Deal Summary
Date 2020-08-17
Target Kabbage
Sector Financial Services
Buyer(s) American Express
Sellers(s) Reverence Capital Partners
Elixir Capital
Deal Type Add-on Acquisition

Target

Kabbage

Atlanta, Georgia, United States
Kabbage, Inc. is a provider of short-term financing to small, underbanked businesses and merchants who primarily sell their products and services online.

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Buyer(S) 1

Buyer

American Express

New York, New York, United States
Category Company
Founded 1850
Sector Financial Services
Employees74,600
Revenue 60.4B USD (2023)
DESCRIPTION
American Express' regional offices in downtown Sydney, Australia.
American Express' regional offices in downtown Sydney, Australia.

American Express is a global financial services company offering payment and credit services to consumers and businesses. The Company's principal products and services are charge and credit payment card products and travel-related services. American Express was incorporated in 1850 and is based in New York City.

DEAL STATS #
Overall 16 of 18
Sector (Financial Services) 5 of 5
Type (Add-on Acquisition) 12 of 13
State (Georgia) 3 of 3
Country (United States) 12 of 13
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-31 ACOM Solutions - Acompay

Long Beach, California, United States

ACOM Solutions, Inc. - Acompay is a digital payment automation solution for accounts payable (AP) departments. The platform integrates with enterprise resource planning or accounting systems and supports check, automated clearing house (ACH), and card payments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-12 Nipendo

Netanya, Israel

Nipendo is a company used by global businesses to automate and streamline business-to-business (B2B) payments processes. Nipendo developed a cloud-based platform for the intelligent automation of procure-to-pay processes. Nipendo is based in Netanya, Israel.

Buy -

Seller(S) 2

SELLER

Reverence Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Focused
DESCRIPTION

Reverence Capital Partners is a specialist private investment firm focused on investing in global, middle-market financial services businesses. Specific areas of interest include insurance, asset/wealth management, depositories, finance, financial technology/payments, and capital markets. The Firm targets control and influence-oriented minority investments and typically collaborates with management to drive long-term success. Reverence Capital Partners was formed in 2013 and is based in New York City.

DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Georgia) 1 of 1
Country (United States) 1 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-15 Vida Capital

Austin, Texas, United States

Vida Capital is an alternative asset management platform specializing in non-correlated investment strategies. Vida specializes in structuring, servicing, financing, and management of life settlements, asset-backed loans, annuities, and structured settlements. Vida Capital was founded in 2009 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-10 Diamond Resorts

Las Vegas, Nevada, United States

Diamond Resorts is a provider of hospitality and management services. The company operates in two segments, Hospitality and Management Services, and Vacation Interest Sales and Financing. Diamond Resorts with its network of more than 420 vacation destinations located in 35 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australasia, and Africa, provides guests with choice and flexibility to let them create their dream vacation, whether they are traveling an hour away or around the world. Our relaxing vacations have the power to give guests an increased sense of happiness and satisfaction in their lives, while feeling healthier and more fulfilled in their relationships, by enjoying memorable and meaningful experiences that let them Stay Vacationed. Diamond Resorts was founded in 1996 and is based in Las Vegas, Nevada.

Sell $1.4B
SELLER

Elixir Capital

Category Private Equity Firm
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

Elixir Capital is a private equity firm focused on growth capital investments in small businesses that are poised for rapid expansion and have a connection to Southern Asia. Elixir Capital was formed in 2012 and has offices in San Francisco, Kuala Lampur, and Jakarta.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-18 The Lorry Online sdn bhd

Puchong, Malaysia

The Lorry is an online lorry booking website. It is a on-demand logistics solution that enables customers to book transporters within minutes.

Buy -
Mergr

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